INN Stock Recent News

AUSTIN, Texas , July 25, 2024 /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 second quarter ended June 30, 2024, of $0.08 per share of common stock of the Company and per common unit of limited partnership interest in Summit Hotel OP, LP, the Company's operating partnership. The Company's second quarter common dividend represents an annualized dividend yield of 5.4 percent based on the closing price of shares of the common stock on July 24, 2024.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

AUSTIN, Texas , June 24, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the second quarter of 2024 on Monday, July 29, 2024, after the market closes. The Company will conduct its quarterly conference call on Tuesday, July 30, 2024, at 9:00 AM ET.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Summit Hotel Properties had a decent start to 2024 with decently strong FFO and AFFO results. The AFFO adjusted for capital expenditures was approximately $12M, with a payout ratio of approximately 25% for the preferred dividends. The LTV ratio is approximately 48.2% based on book value, but drops to just over 40% when considering acquisition value.

NEW YORK , May 20, 2024 /PRNewswire/ -- Purcell & Lefkowitz LLP announces that it is investigating Summit Hotel Properties, Inc. (NYSE: INN) on behalf of the company's shareholders.  The investigation seeks to determine whether Summit Hotel Properties's directors breached their fiduciary duties in connection with recent corporate actions.

Summit Hotel Properties, Inc. (NYSE:INN ) Q1 2024 Earnings Call Transcript May 2, 2024 9:00 AM ET Company Participants Adam Wudel - SVP, Finance, Capital Market and Treasurer Jon Stanner - President & Chief Executive Officer Trey Conkling - Executive Vice President & Chief Financial Officer Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Bill Crow - Raymond James Chris Woronka - Deutsche Bank Michael Bellisario - Baird Operator Welcome to the Summit Hotel Properties' 2024 First Quarter Earnings Conference Call. I will now be passing the line to Adam Wudel, Senior Vice President of Finance, Capital Markets and Treasurer.

AUSTIN, Texas , March 26, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the first quarter of 2024 on Wednesday, May 1, 2024, after the market closes. The Company will conduct its quarterly conference call on Thursday, May 2, 2024, at 9:00 AM ET.

Summit Hotel Properties' full-year results show decent performance and well-covered preferred dividends. INN's outlook for 2024 is encouraging, with expected higher AFFO and lower capex. The asset coverage ratio is okay, but there is in excess of $650M in common equity junior to the preferred shares.