Summit Hotel Properties Price, Forecast, Insider, Ratings, Fundamentals & Signals

Operating income of $23.5 million for first quarter 2024 adjusted ebitdare grows 10% to $48.8 million; adjusted ffo increases 14% to $0.24 per share sale of three hotels for $84.0 million further deleverages balance sheet subsequent to quarter end common dividend increased 33% to annualized $0.32 per share austin, texas , may 1, 2024 /prnewswire/ -- summit hotel properties, inc. (nyse: inn) (the "company"), today announced results for the three months ended march 31, 2024. "we are pleased with our strong first quarter financial results, highlighted by 10 percent adjusted ebitdare growth and 14 percent adjusted ffo growth.

New york , april 8, 2024 /prnewswire/ -- purcell & lefkowitz llp announces that it is investigating summit hotel properties, inc. (nyse: inn) on behalf of the company's shareholders. the investigation seeks to determine whether summit hotel properties's directors breached their fiduciary duties in connection with recent corporate actions.

Austin, texas , march 26, 2024 /prnewswire/ -- summit hotel properties, inc. (nyse: inn) (the "company") today announced that it will report financial results for the first quarter of 2024 on wednesday, may 1, 2024, after the market closes. the company will conduct its quarterly conference call on thursday, may 2, 2024, at 9:00 am et.

Operating income of $58.8 million for full year 2023 adjusted ebitdare climbs 5.1 percent to $190.0 million; adjusted ffo per share of $0.92 for full year 2023 accretive dispositions continue with sale of two additional hotels new $200 million term loan financing completed; no significant debt maturities until 2026 austin, texas , feb. 28, 2024 /prnewswire/ -- summit hotel properties, inc. (nyse: inn) (the "company"), today announced results for the fourth quarter and full year ended december 31, 2023. "we are proud of the company's many successes in 2023, led by revpar growth of 6.6 percent which outpaced the overall industry by approximately 170 basis points and was primarily driven by the strong performance of our urban hotels.

Austin, texas , feb. 23, 2024 /prnewswire/ -- summit hotel properties, inc. (nyse: inn) (the "company") today announced that its 2024 annual meeting of stockholders will be held wednesday, may 22, 2024, beginning at 8:00 a.m. central time.

Summit Hotel Properties, Inc. (NYSE:INN ) Q1 2024 Earnings Call Transcript May 2, 2024 9:00 AM ET Company Participants Adam Wudel - SVP, Finance, Capital Market and Treasurer Jon Stanner - President & Chief Executive Officer Trey Conkling - Executive Vice President & Chief Financial Officer Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Bill Crow - Raymond James Chris Woronka - Deutsche Bank Michael Bellisario - Baird Operator Welcome to the Summit Hotel Properties' 2024 First Quarter Earnings Conference Call. I will now be passing the line to Adam Wudel, Senior Vice President of Finance, Capital Markets and Treasurer.

AUSTIN, Texas , March 26, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the first quarter of 2024 on Wednesday, May 1, 2024, after the market closes. The Company will conduct its quarterly conference call on Thursday, May 2, 2024, at 9:00 AM ET.

Summit Hotel Properties' full-year results show decent performance and well-covered preferred dividends. INN's outlook for 2024 is encouraging, with expected higher AFFO and lower capex. The asset coverage ratio is okay, but there is in excess of $650M in common equity junior to the preferred shares.

Hotel REITs experienced a significant drop in share value during the COVID-19 pandemic but have since recovered and outperformed the Vanguard Real Estate ETF. Consumer spending is shifting towards services like travel and leisure, which bodes well for Hotel REITs. Hotel REITs have posted the fourth-best total returns among REIT sectors in 2024, indicating their potential for future growth.

The headline numbers for Summit Hotel Properties (INN) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Evaluate the expected performance of Summit Hotel Properties (INN) for the quarter ended December 2023, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

We have screened bargain stocks FRBA, CX, CMRE, ASX and INN based on the EV-to-EBITDA ratio, which offers a clearer picture of valuation and earnings potential.

AUSTIN, Texas , Jan. 4, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the fourth quarter and full year of 2023 on Wednesday, February 28, 2024, after the market closes. The Company will conduct its quarterly conference call on Thursday, February 29, 2024, at 9:00 AM ET.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.