Summit Hotel Properties Sees FY24 AFFO $0.90-$1.00 Vs $0.91 Est.
Portfolio Pulse from Benzinga Newsdesk
Summit Hotel Properties projects its FY24 Adjusted Funds From Operations (AFFO) to be in the range of $0.90 to $1.00, compared to the estimated $0.91.

February 28, 2024 | 10:21 pm
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Summit Hotel Properties anticipates its FY24 AFFO to range from $0.90 to $1.00, which is in line with the analyst estimate of $0.91.
The projection of Summit Hotel Properties' AFFO for FY24 is closely aligned with the current analyst estimate, indicating a neutral impact on the stock price in the short term. The guidance range suggests management's confidence in the company's operational performance, but since it matches analyst expectations, significant stock price movement is unlikely unless broader market conditions change.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100