Summit Hotel Properties Declares Second Quarter 2020 Preferred Dividends
Summit Hotel Properties, Inc. (NYSE: INN) declared cash dividends for its preferred stock on July 29, 2020.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Summit Hotel Properties, Inc. (NYSE: INN) declared cash dividends for its preferred stock on July 29, 2020. Shareholders will receive $0.403125 per share for the Series D Cumulative Redeemable Preferred Stock and $0.390625 per share for the Series E Cumulative Redeemable Preferred Stock, both payable on August 31, 2020. Record date is August 17, 2020. The company operates 72 hotels, primarily in the Upscale segment, boasting over 11,000 guestrooms across 23 states, reflecting its focus on premium-branded properties.
Positive
- Declaring $0.403125 dividend per share for Series D preferred stock and $0.390625 for Series E, showcasing strong cash flow.
- Company's portfolio consists of 72 hotels with 11,288 guestrooms, indicating solid operational scale.
Negative
- None.
Details
News Market Reaction – INN
The recorded move for INN in the trading session of this news was -2.73%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
AUSTIN, Texas, July 29, 2020 /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 of
The dividends are payable on August 31, 2020 to holders of record as of August 17, 2020.
About Summit Hotel Properties
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 July 29, 2020, the Company's portfolio consisted of 72 hotels, 67 of which were wholly-owned, with a total of 11,288 guestrooms located in 23 states.
For additional information, please visit the Company's website, www.shpreit.com, and follow the Company on Twitter at @SummitHotel_INN.
Forward Looking Statements
This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "seek," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," "forecast," "continue," "plan," "likely," "would" or other similar words or expressions. These forward-looking statements relate to the payment of dividends. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company's control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the hotel industry and other factors as are described in greater detail in the Company's filings with the Securities and Exchange Commission, including, without limitation, the Company's Annual Report on Form 10-K for the year ended December 31, 2019. Unless legally required, the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
View original content to download multimedia:http://www.prnewswire.com/news-releases/summit-hotel-properties-declares-second-quarter-2020-preferred-dividends-301102582.html
SOURCE Summit Hotel Properties, Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.