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Summit Hotel Properties Inc - INN STOCK NEWS

Welcome to our dedicated news page for Summit Hotel Properties (Ticker: INN), a resource for investors and traders seeking the latest updates and insights on Summit Hotel Properties.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Summit Hotel Properties's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Summit Hotel Properties's position in the market.

Rhea-AI Summary
Summit Hotel Properties, Inc. (INN) will report Q1 2024 financial results on May 1, 2024, with a conference call on May 2, 2024. Pre-register for the call to access dial-in details and watch the webcast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.37%
Tags
-
Rhea-AI Summary
Summit Hotel Properties, Inc. (INN) reported an operating income of $58.8 million for full year 2023. Adjusted EBITDAre increased by 5.1% to $190.0 million, with Adjusted FFO per share at $0.92. The company achieved RevPAR growth of 6.6%, outperforming the industry by 170 basis points. With strategic asset sales, the company recycled proceeds into high-quality hotels in high-growth markets. A new $200 million term loan financing was completed, extending debt maturities until 2026. Despite a net loss, the company increased its common dividend by 50% in 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.58%
Tags
-
Rhea-AI Summary
Summit Hotel Properties, Inc. announces the date for its 2024 Annual Meeting of Stockholders. The meeting will take place on May 22, 2024, at 8:00 a.m. Central Time in Austin, Texas. Stockholders of record as of March 6, 2024, are invited to attend.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.15%
Tags
none
Rhea-AI Summary
Summit Hotel Properties, Inc. (NYSE: INN) announced a cash dividend for the fourth quarter of 2023, with a 3.6% annualized dividend yield. The Board of Directors also declared cash dividends for the Company's preferred stock and operating partnership units. The dividends are payable on February 29, 2024, to holders of record as of February 15, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.45%
Tags
dividends earnings
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Rhea-AI Summary
Summit Hotel Properties, Inc. (NYSE: INN) will report financial results for Q4 and full year 2023 on Feb 28, 2024, followed by a conference call on Feb 29, 2024 at 9:00 AM ET.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.65%
Tags
-
Rhea-AI Summary
Summit Hotel Properties, Inc. (NYSE: INN) reported strong financial results for Q3 2023. Operating income was $16.5 million, adjusted EBITDAre reached $46.3 million, and adjusted FFO per share was $0.22. Pro forma RevPAR increased 2.4% to $116.91, while same store RevPAR increased 2.4% to $117.85. The Company increased the midpoint of its adjusted EBITDAre and adjusted FFO guidance for full year 2023. The Company also announced the pending sale of the Hyatt Place Baltimore / Owings Mills for $8.3 million. The refinancing of its joint venture credit facility and the company's strong balance sheet were highlighted.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.03%
Tags
Rhea-AI Summary
Summit Hotel Properties, Inc. has declared a cash dividend of $0.06 per share of common stock for the third quarter, representing an annualized dividend yield of 4.3%. They have also declared dividends for their preferred stock and perpetual preferred units.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.12%
Tags
dividends earnings
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Rhea-AI Summary
Summit Hotel Properties to report Q3 2023 financial results on November 1, 2023, after the market closes. Quarterly conference call scheduled for November 2, 2023, at 1:00 PM ET.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.91%
Tags
-
Rhea-AI Summary
Summit Hotel Properties successfully completes $200 million refinancing of credit facility with GIC, eliminating material debt maturities through 2024. Maintains attractive pricing and strengthens balance sheet.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.23%
Tags
none
Rhea-AI Summary
Summit Hotel Properties, Inc. publishes annual Corporate Responsibility Report, highlighting progress in environmental initiatives and diversity efforts.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.93%
Tags
none
Summit Hotel Properties Inc

NYSE:INN

INN Rankings

INN Stock Data

699.35M
104.36M
2.94%
94.15%
5.87%
Other Financial Vehicles
Finance and Insurance
Link
US
Austin

About INN

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.