Condor Hospitality Trust Declares Fourth Quarter Common Dividend of $0.03 Per Share

BETHESDA, Md., Dec. 08, 2016 (GLOBE NEWSWIRE) -- Condor Hospitality Trust, Inc. (NASDAQ: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 declared a common stock dividend of $0.03 per share for the fourth quarter. This represents $0.12 per share on an annualized basis. The dividend will be payable on January 5, 2017 to shareholders of record as of December 20, 2016.

“We are delighted to declare and pay a fourth quarter dividend to the holders of our common stock of $0.03 per share, which represents our third consecutive quarterly dividend since reinitiating common distributions in the second quarter of 2016,” said Bill Blackham, Condor’s Chief Executive Officer. “We have also declared the regular quarterly dividend of $0.15625 per share payable to our Series D preferred stock shareholders for the fourth quarter. The Board of Directors intends to continue to review all circumstances in the future and consider the payment of common stock dividends, if permitted and in amounts it deems appropriate,” Mr. Blackham continued.

About Condor Hospitality Trust, Inc.

Condor Hospitality Trust, Inc. (NASDAQ: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 21 hotels in 11 states. Condor’s hotels are franchised by a number of the industry’s most well-regarded brand families including Hilton, Marriott/Starwood, InterContinental Hotels Group, Choice, and Wyndham. 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.

Contact: Jonathan J. Gantt Chief Financial Officer & Senior Vice President jgantt@trustcondor.com (301) 861-3305

Source:Condor Hospitality Trust, Inc.