Streetbeat News

INN

Summit Hotel Properties, Inc.

https://www.shpreit.com

Industry

REIT - Hotel & Motel

Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of November 3, 2020, the Company's portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guestrooms located in 23 states.

Open

6.58

Mkt cap

685M

Volume

1.5M

High

6.58

P/E Ratio

126.40

52-wk high

7.22

Low

6.29

Div yield

0.05

52-wk low

5.66

Summit Hotel Properties, Inc. has announced its 2025 Annual Meeting of Stockholders, scheduled for May 21, 2025.

Portfolio Pulse from

February 20, 2025 | 10:30 pm

Summit Hotel Properties has declared a cash dividend of $0.08 per share for the fourth quarter of 2024, representing an annualized yield of 4.8% based on the January 22, 2025 closing price.

Portfolio Pulse from

January 23, 2025 | 10:15 pm

Summit Hotel Properties' preferred shares offer a 7.6% dividend yield, providing a senior position in the capital stack and cumulative dividends. The company reported strong FFO and AFFO, comfortably covering its preferred dividend commitments, with only 12% of AFFO needed for preferred dividends. The REIT's balance sheet is robust, with $2.84B in assets and $1.32B in equity.

Portfolio Pulse from

January 17, 2025 | 3:45 pm

Summit Hotel Properties, Inc. (INN) held its Q3 2024 earnings call, discussing financial performance and company developments. Key participants included executives Adam Wudel, Jon Stanner, and Trey Conkling, with analysts from KeyBanc, Baird, and Deutsche Bank attending.

Portfolio Pulse from

November 05, 2024 | 6:45 pm

Summit Hotel Properties reported its third quarter 2024 results, highlighting a third consecutive quarter of Adjusted FFO growth. The company sold the Four Points San Francisco Airport Hotel for $17.7 million after the quarter ended. Despite moderate top-line growth due to Hurricane Helene disruptions, the company's capital recycling strategy proved effective.

Portfolio Pulse from

November 05, 2024 | 12:30 pm

Summit Hotel Properties (INN) reported Q3 funds from operations (FFO) of $0.22 per share, surpassing the Zacks Consensus Estimate of $0.20 per share. This matches the FFO from the same quarter last year.

Portfolio Pulse from

November 05, 2024 | 12:30 pm

Summit Hotel Properties (NYSE:INN) reported Q2 2024 earnings per share (EPS) of $0.29, beating the analyst estimate of $0.27. However, the company's sales of $193.903 million slightly missed the estimate of $193.909 million and showed a 0.30% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:34 pm

Summit Hotel Properties projects its FY24 adjusted Funds From Operations (FFO) to be in the range of $0.90 to $1.00, compared to the estimated $0.92.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:06 pm

Summit Hotel Properties (NYSE:INN) reported Q1 2024 FFO of $0.24 per share, surpassing the $0.20 estimate, and sales of $188.142M, exceeding the $184.847M estimate. This represents a 9.09% increase in earnings and a 3.16% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:05 pm

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