SUMMIT HOTEL PROPERTIES DECLARES THIRD QUARTER 2022 DIVIDENDS
Summit Hotel Properties announced a cash dividend of $0.04 per share for Q3 2022, payable on November 30, 2022.
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 announced a cash dividend of $0.04 per share for Q3 2022, payable on November 30, 2022. The Company also declared dividends of $0.390625 for Series E Preferred Stock and $0.3671875 for Series F Preferred Stock, along with $0.328125 for Series Z Preferred Units. All dividends are payable to holders of record as of November 16, 2022. As of September 30, 2022, Summit’s portfolio includes 102 hotels across 24 states, emphasizing its position in the upscale lodging segment.
Positive
- Declared a cash dividend of $0.04 per share for Q3 2022, reflecting shareholder return.
- Continued payment of preferred stock dividends, indicating financial stability.
Negative
- None.
Details
News Market Reaction – INN
The recorded move for INN in the trading session of this news was +1.89%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
AUSTIN, Texas, Oct. 28, 2022 /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 for the third quarter ended September 30, 2022, of
The Board of Directors has also authorized, and the Company has declared, a cash dividend of
Additionally, the Board of Directors has authorized a cash distribution, and the Company has declared on behalf of the operating partnership, distributions of
The dividends are payable on November 30, 2022 to holders of record as of November 16, 2022.
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 September 30, 2022, the Company's portfolio consisted of 102 hotels, 61 of which are wholly owned, with a total of 15,323 guestrooms located in 24 states.
For additional information, please visit the Company's website, www.shpreit.com, and follow the Company on Twitter at @SummitHotel_INN.
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, 2021. 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.
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SOURCE Summit Hotel Properties, Inc.
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