Condor Hospitality Trust, Inc.
, (NASDAQ: CDOR) is a hotel-focused real estate investment trust (REIT) specializing
in the investment and ownership of upper midscale and upscale, premium-branded select-service,
extended stay and limited service hotels. As a REIT, the company by law must distribute
at least 90% of its taxable income to its shareholders through dividends typically
paid on a quarterly basis.
The company’s 34 hotels are operated by various third-party management companies
under franchise agreements with a number of the industry’s most well-regarded
brand families including Hilton, Marriott, InterContinental Hotels Group, Choice
The company completed its initial public offering in 1994, when it owned a portfolio
of 36 hotels. Over the next five years, the company developed or built another
27 properties, growing its portfolio to 63 properties. The company merged with
Humphrey Hospitality Trust in fall 1999 and assumed that company’s name, trading
under the symbol HUMP. The company relocated to its Norfolk, Nebraska location
in 2004 and returned to its original name and stock symbol in 2005: Supertel
Hospitality, Inc., NASDAQ symbol: SPPR.
On July 15, 2015, the company changed its name from Supertel Hospitality, Inc.
to Condor Hospitality Trust, Inc. The company’s common stock trading symbol
changed from SPPR to CDOR. The trading symbol for the company’s Series A preferred
stock changed from SPPRP to CDORP and the trading symbol for the company’s Series
B preferred stock changed from SPPRO to CDORO.