PALM BEACH, FL-Innkeepers USA Trust, a publicly traded hotel REIT based here, has doubled its regular common share dividend to 6 cents per share for the third quarter from 3 cents the previous quarter.The company’s board of trustees also declared a regular dividend of 50 cents per series C cumulative preferred share for this July 28 to Oct. 26. The common and series C preferred dividends are payable Oct. 26 to shareholders of record Sept. 24.Innkeepers USA Trust acquires and develops upscale, extended-stay hotel properties in the US. Most recently, the company this week paid $3.7 million for a site in Valencia, CA, where it plans to develop a 157-suite Embassy Suites hotel. The company also focuses on rebranding and repositioning hotel properties. The company owns 68 hotels with 8,579 suites or rooms in 21 states.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.