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

6.34

Mkt cap

671M

Volume

491K

High

6.34

P/E Ratio

123.80

52-wk high

7.22

Low

6.17

Div yield

0.05

52-wk low

5.66

Wolfe Research analyst Keegan Carl has initiated coverage on Summit Hotel Properties (NYSE:INN) with a Peer Perform rating, indicating a neutral outlook on the company's stock performance relative to its peers.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:35 am

Summit Hotel Properties (NYSE:INN) reported Q3 2023 earnings of $0.22 per share, a 12% decrease YoY. However, the company's quarterly sales of $181.82M beat the analyst consensus estimate of $180.50M by 0.73%, marking a 2% increase YoY.

Portfolio Pulse from totan@benzinga.com

November 01, 2023 | 9:16 pm

Summit Hotel Properties has announced the completion of the refinancing of its $200 million senior credit facility. The facility is a joint venture with GIC and is comprised of a $125 million revolving credit facility and a $75 million term loan.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:31 am

Three real estate stocks with over 4% dividend yields have been recommended by Wall Street's most accurate analysts. These include Summit Hotel Properties, Inc. (INN), UDR, Inc. (UDR), and CubeSmart (CUBE). Recent news for these companies include better-than-expected quarterly sales for INN and CUBE, while UDR reported worse-than-expected second-quarter revenue results.

Portfolio Pulse from Lisa Levin

September 01, 2023 | 12:29 pm

Hersha Hospitality Trust (HT) announced a merger with KSL Capital Partners, with KSL acquiring all outstanding common shares of Hersha for $10 per share in an all-cash transaction of $1.4 billion. This is a 60% premium over Hersha's closing price on Aug. 25. The news triggered buying on several other hotel REITs, including Braemar Hotels & Resorts (BHR), Ashford Hospitality Trust (AHT), and Chatham Lodging Trust (CLDT). Other Hotel REITs with notable sympathy price changes were Summit Hotel Properties (INN), Xenia Hotels & Resorts (XHR), and Diamondrock Hospitality (DRH).

Portfolio Pulse from Ethan Roberts

August 30, 2023 | 10:00 am

During Thursday's session, 92 stocks hit new 52-week lows. Pfizer was the biggest company on a market cap basis to set a new 52-week low. BitNile Metaverse was the smallest firm by market cap to set a new 52-week low. Aravive made the largest move down on the session, with shares plummeting 71.75% to reach its 52-week low. Senstar Tech saw the biggest bounce back on, as shares traded up 0.0% to rebound after it hit its new 52-week low.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 2:12 pm

Summit Hotel Properties has projected its FY23 adjusted FFO to be between $0.86 and $0.94.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:28 pm

Summit Hotel Properties (NYSE:INN) reported Q2 earnings of $0.27 per share, unchanged YoY. The company's quarterly sales were $194.49 million, beating the analyst consensus estimate of $192.46 million by 1.06 percent, and marking a 6.14 percent increase over sales of $183.25 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:26 pm

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