BETHESDA, Md.--(BUSINESS WIRE)--Condor Hospitality Trust, Inc. (NYSE American: CDOR), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that its Board of Directors has authorized and the Company has declared a quarterly cash common stock dividend of $0.195 per share for the first quarter of 2018. The common stock dividend represents an annualized yield of approximately 7.6% based on the closing price of the Company’s common shares on March 21, 2018. The first quarter dividend will be payable on April 9, 2018 to shareholders of record as of April 2, 2018.
The Board of Directors also authorized and the Company also declared a regular quarterly cash dividend of $0.15625 per share on the Company’s 6.25% Series E Cumulative Convertible Preferred shares which will be paid on April 2, 2018.
About Condor Hospitality Trust, Inc.
Condor Hospitality Trust, Inc. (NYSE American: CDOR), is a self-administered real estate investment trust incorporated in the state of Maryland that specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited-service hotels. The Company currently owns 18 hotels in 10 states. Condor’s hotels are franchised by a number of the industry’s most well-regarded brand families including Hilton, Marriott, and InterContinental Hotels Group. For more information or to make a hotel reservation, visit www.condorhospitality.com.
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These risks are discussed in the Company’s filings with the Securities and Exchange Commission.