Summit Hotel Properties, Inc.

INN

US8660821005

Specialized REITs

Market Closed - Nyse Other stock markets 04:00:02 2024-04-26 pm EDT			5-day change	1st Jan Change
6.13 ^USD	+0.99%		-0.33%	-8.78%

Apr. 22	BofA Securities Lowers Summit Hotel Properties Price Objective to $6.50 from $7.50	MT
Apr. 05	Lodging REIT Quarterly Results Likely Benefitted From Upper Upscale Chain Strength, Oppenheimer Says	MT

Summit Hotel Properties, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023

February 28, 2024 at 04:30 pm EST

Summit Hotel Properties, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 656.06 million compared to USD 609.37 million a year ago. Revenue was USD 736.13 million compared to USD 675.7 million a year ago.

Net loss was USD 9.49 million compared to net income of USD 1.47 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to USD 0.16 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to USD 0.16 a year ago.

Latest news about Summit Hotel Properties, Inc.

BofA Securities Lowers Summit Hotel Properties Price Objective to $6.50 from $7.50	Apr. 22	MT
Lodging REIT Quarterly Results Likely Benefitted From Upper Upscale Chain Strength, Oppenheimer Says	Apr. 05	MT
Transcript : Summit Hotel Properties, Inc., Q4 2023 Earnings Call, Feb 29, 2024	Feb. 29
Earnings Flash (INN) SUMMIT HOTEL PROPERTIES Reports Q4 Revenue $177.4M	Feb. 28	MT
Summit Hotel Properties, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023	Feb. 28	CI
Summit Hotel Properties, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2023	Feb. 28	CI
Summit Hotel Properties Keeps Quarterly Cash Dividend at $0.06 a Share, Payable Feb. 29 to Holders of Record Feb. 15	Jan. 25	MT
Summit Hotel Properties, Inc. Declares Cash Dividend for the Fourth Quarter Ended December 31, 2023, Payable on February 29, 2024	Jan. 25	CI
Wolfe Research Starts Summit Hotel Properties With Peer Perform Rating	Jan. 10	MT
An unknown buyer completed the acquisition of Hyatt Place Baltimore / Owings Mills from Summit Hotel Properties, Inc..	Dec. 30	CI
Transcript : Summit Hotel Properties, Inc., Q3 2023 Earnings Call, Nov 02, 2023	Nov. 02
Summit Hotel Properties, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023	Nov. 01	CI
An unknown buyer agreed to acquire Hyatt Place Baltimore / Owings Mills from Summit Hotel Properties, Inc. for $8.3 million.	Oct. 31	CI
Summit Hotel Properties, Inc. Declares Third Quarter 2023 Dividend, Payable on November 30, 2023	23-10-26	CI
Summit Hotel Properties Says Joint Venture Completes $200 Million Credit Facility Refinancing	23-09-20	MT
Summit Hotel's Joint Venture Refinances $200 Million in Debt	23-09-20	DJ
Transcript : Summit Hotel Properties, Inc., Q2 2023 Earnings Call, Aug 03, 2023	23-08-03
Summit Hotel Properties, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023	23-08-02	CI
Summit Hotel Properties, Inc. and GIC Private Limited acquired The Nordic Lodge Hotel for $13.7 million.	23-08-01	CI
Summit Hotel Properties Declares Second Quarter 2023 Common Stock Dividend, Payable on August 31, 2023	23-07-27	CI
Summit Hotel Properties, Inc. Completes $600 Million Credit Facility Refinancing	23-06-22	CI
An unknown buyer cancelled the acquisition of two-hotel portfolio from Summit Hotel Properties, Inc..	23-06-04	CI
An unknown buyer acquired four-hotel portfolio from Summit Hotel Properties, Inc..	23-06-04	CI
Summit Hotel Properties, Inc. and GIC Private Limited acquired Residence Inn Scottsdale North for $29 million	23-06-04	CI
Transcript : Summit Hotel Properties, Inc., Q1 2023 Earnings Call, May 04, 2023	23-05-04

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Company Profile

Summit Hotel Properties, Inc. is a real estate investment trust. The Company is focused on owning premium-branded lodging properties with operating models primarily in the upscale segment of the lodging industry. Its portfolio consists of approximately 99 assets, 56 of which are wholly owned, with a total of 14,785 guestrooms located in 24 states. Its properties are located in markets with multiple demand generators, such as corporate offices and headquarters, retail centers, airports, state capitols, convention centers, universities, and leisure attractions. Its guestrooms operate under franchise brands owned by Marriott International, Inc. (Marriott), Hilton Worldwide (Hilton), Hyatt Hotels Corporation (Hyatt), and InterContinental Hotels Group (IHG). It holds both general and limited partnership interests in Summit Hotel OP, LP (the Operating Partnership). Substantially, all of its assets are held by, and all of its operations are conducted through, the Operating Partnership.

Sector

Specialized REITs

Calendar

2024-04-30 - Q1 2024 Earnings Release

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Russell 2000

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Ratings for Summit Hotel Properties, Inc.

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ESG Refinitiv

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Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

6.13 USD

Average target price

7.5 USD

Spread / Average Target

+22.35%

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