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Summit Hotel Pptys Inc - INN STOCK NEWS

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

Summit Hotel Properties, Inc. (NYSE: INN), a real estate investment trust specializing in premium-branded upscale hotels, provides investors and industry observers with critical updates through this centralized news hub. This page aggregates official press releases, financial disclosures, and market analyses related to the company’s portfolio management and lodging sector activities.

Users gain streamlined access to essential updates including quarterly earnings reports, asset acquisition announcements, and operational strategy shifts. The curated collection serves analysts tracking REIT performance metrics and hospitality professionals monitoring industry consolidation trends.

Content spans capital recycling initiatives, brand partnership developments, and geographic expansion updates, reflecting Summit’s focus on high-quality urban lodging assets. Bookmark this resource for efficient tracking of the company’s evolving position within the competitive hotel REIT landscape.

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Summit Hotel Properties (NYSE: INN) has announced the date for its third quarter 2024 earnings release. The company will report financial results on Monday, November 4, 2024, after market close. A conference call will be held on Tuesday, November 5, 2024, at 9:00 AM ET to discuss the results.

Interested parties can pre-register for the conference call using a provided link, which will supply dial-in details. A live webcast of the call will also be available, with a replay accessible in the Investors section of the company's website until January 31, 2025.

Summit Hotel Properties is a publicly traded real estate investment trust focusing on premium-branded lodging facilities in the upscale segment. As of September 23, 2024, the company's portfolio included 96 assets, with 54 wholly owned, totaling 14,256 guestrooms across 24 states.

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Summit Hotel Properties (NYSE: INN) has released its 2024 Corporate Responsibility Report, highlighting its ongoing commitment to ESG initiatives. The company has made significant progress towards its environmental goals, achieving 87% of its 2025 reduction target. Summit's community engagement efforts have resulted in nearly $1,000,000 in contributions and 1,400 volunteer hours supporting 55 charitable organizations. The report emphasizes Summit's dedication to creating long-term shareholder value through responsible investing, environmental safeguarding, and supporting employees and communities. CEO Jonathan P. Stanner expressed pride in the company's ESG advancements and its commitment to fostering a diverse, equitable, and inclusive work culture. The full report is available on Summit Hotel Properties' website.

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Summit Hotel Properties (NYSE: INN) reported strong Q2 2024 results, with net income increasing to $30.8 million and Adjusted EBITDAre growing 6% to a record $55.9 million. The company's pro forma RevPAR rose 3.4% to $132.41, outperforming the national average for the 13th consecutive quarter. Adjusted FFO increased 10% to $0.29 per share. Key drivers included strong group demand, business travel recovery, and urban market exposure. Summit also sold three hotels for $84 million, continuing its deleveraging efforts. The company updated its 2024 outlook, slightly lowering Adjusted EBITDAre expectations due to moderating RevPAR growth, while maintaining Adjusted FFO projections.

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Summit Hotel Properties (NYSE: INN) has declared dividends for Q2 2024. The company announced a cash dividend of $0.08 per share of common stock and per common unit of partnership interest in Summit Hotel OP, LP. This represents an annualized dividend yield of 5.4% based on the July 24, 2024 closing price.

Additionally, the company declared dividends for its preferred stocks: $0.390625 per share for the 6.25% Series E and $0.3671875 per share for the 5.875% Series F Cumulative Redeemable Preferred Stock. The operating partnership's unregistered 5.25% Series Z Cumulative Perpetual Preferred Units will receive a distribution of $0.328125 per unit.

All dividends are payable on August 30, 2024, to holders of record as of August 16, 2024.

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Summit Hotel Properties (NYSE: INN) announced it will release its Q2 2024 financial results on July 29, 2024, after the market closes. A conference call to discuss these results will follow on July 30, 2024, at 9:00 AM ET. The company, a real estate investment trust, focuses on premium-branded lodging and operates 96 assets, including 54 wholly owned properties across 24 states, totaling 14,256 guestrooms. The conference call will be accessible live via webcast, with a replay available until October 31, 2024, on the company's website.

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Summit Hotel Properties, Inc. reported strong financial results for the first quarter of 2024, with an Operating Income of $23.5 million, Adjusted EBITDAre growth of 10% to $48.8 million, and Adjusted FFO increase of 14% to $0.24 per share. The Company sold three hotels for $84.0 million to further deleverage the balance sheet. The common dividend was increased by 33% to an annualized $0.32 per share. Despite a net loss attributable to common stockholders of $2.1 million, the Company saw positive growth in key metrics such as RevPAR and EBITDA.

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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.
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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.
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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.
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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.
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Summit Hotel Pptys Inc

NYSE:INN

INN Rankings

INN Stock Data

436.62M
107.57M
3.6%
93.81%
3.02%
REIT - Hotel & Motel
Real Estate Investment Trusts
Link
United States
AUSTIN