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

6.59

Mkt cap

739M

Volume

1.2M

High

6.92

P/E Ratio

136.40

52-wk high

7.22

Low

6.59

Div yield

0.04

52-wk low

5.66

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.