Summit Hotel Properties Stock News

AUSTIN, Texas , Dec. 10, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), through its joint venture with GIC, today announced that it is under contract to acquire the 250-guestroom Hampton Inn Boston - Logan Airport and the 149-guestroom Hilton Garden Inn Tysons Corner for a combined purchase price of $96.0 million, or $241,000 per key. The purchase price represen...

Summit Hotel Properties, Inc. (NYSE:INN ) Q3 2024 Earnings Conference Call November 5, 2024 9:00 AM ET Company Participants Adam Wudel - EVP of Corporate Development Jon Stanner - President and Chief Executive Officer Trey Conkling - Executive Vice President and Chief Financial Officer Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Michael Bellisario - Baird Chris Woro...

Four Points San Francisco Airport Hotel Sold for $17.7 Million Subsequent to Quarter-End AUSTIN, Texas , Nov. 4, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the three and nine months ended September 30, 2024. "We are pleased with our third quarter financial results highlighted by our third consecutive quarter of Adjusted FFO growth...

I find Summit Hotel Properties' preferred shares attractive due to their strong dividend coverage and relatively stable risk profile despite the hospitality sector's volatility. The REIT's AFFO of $66M in H1 comfortably covers its capex and preferred dividends, indicating a safe dividend coverage ratio. Summit Hotel Properties' balance sheet is solid, with $2.87B in assets and a net debt positi...

AUSTIN, Texas , Oct. 24, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend for the third quarter ended September 30, 2024, of $0.08 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company'...

AUSTIN, Texas , Sept. 23, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the third quarter of 2024 on Monday, November 4, 2024, after the market closes.

Summit Hotel Properties is a lodging REIT with 62% exposure to the Sun Belt region. 95% of hotels operate under the Marriott, Hyatt, and Hilton brands. So far in 2024 the REIT has lagged the Vanguard Real Estate Index Fund ETF's performance by around 15%. This has resulted in the company trading at a substantial AFFO discount relative to larger REIT peers.

AUSTIN, Texas , Sept. 11, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced the publication of its annual Corporate Responsibility Report, which presents the Company's ongoing commitment to creating long-term shareholder value by investing responsibly, safeguarding the environment, and supporting its employees, communities, and other stakeholders.