SUMMIT HOTEL PROPERTIES DECLARES THIRD QUARTER 2024 DIVIDENDS
Summit Hotel Properties (NYSE: INN) has declared its third quarter 2024 dividends.
Sentiment and the balance of points
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Rhea-AI Summary
Summit Hotel Properties (NYSE: INN) has declared its third quarter 2024 dividends. The company announced a cash dividend of $0.08 per share of common stock and per common unit, representing an annualized dividend yield of 5.2%. Additionally, the company declared dividends for its preferred stocks: $0.390625 per share for Series E (6.25%), $0.3671875 per share for Series F (5.875%), and $0.328125 per unit for Series Z (5.25%) preferred units. All dividends will be paid on November 29, 2024, to shareholders of record as of November 15, 2024.
Positive
- Maintained quarterly dividend distribution, showing financial stability
- 5.2% annualized dividend yield offers attractive return for investors
Negative
- None.
Details
News Market Reaction – INN
The recorded move for INN in the trading session of this news was -0.80%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 29, 2024, to holders of record as of November 15, 2024.
About Summit Hotel Properties
Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the Upscale segment of the lodging industry. As of September 30, 2024, the Company's portfolio consisted of 96 assets, 54 of which are wholly owned, with a total of 14,255 guestrooms located in 24 states.
For additional information, please visit the Company's website, www.shpreit.com, and follow the Company on X 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
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SOURCE Summit Hotel Properties, Inc.
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