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Summit Hotel Properties inc   (NYSE: INN)
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Price: $6.7000 $-0.06 -0.888%
Day's High: $6.765 Week Perf: 1.67 %
Day's Low: $ 6.68 30 Day Perf: 1.52 %
Volume (M): 641 52 Wk High: $ 7.22
Volume (M$): $ 4,296 52 Wk Avg: $6.40
Open: $6.74 52 Wk Low: $5.66



 Market Capitalization (Millions $) 710
 Shares Outstanding (Millions) 106
 Employees 2,691
 Revenues (TTM) (Millions $) 736
 Net Income (TTM) (Millions $) 33
 Cash Flow (TTM) (Millions $) -8
 Capital Exp. (TTM) (Millions $) 89

Summit Hotel Properties Inc
Summit Hotel Properties Inc. is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership, and operation of premium-branded upscale and upper-upscale hotels in the United States. It was founded in 2010 and is headquartered in Austin, Texas.

Summit's portfolio consists of 72 hotels with a total of 11,288 guestrooms located in 24 states across the country. The company's properties are primarily franchised by Marriott, Hilton, and Hyatt, as well as other select-service brands. The company's hotels are mostly located in urban and resort destinations, including major markets such as New York, Boston, and San Francisco, as well as popular leisure destinations such as Hawaii and Orlando.

The company's growth strategy is focused on acquiring high-quality, premium-branded upper-upscale and upscale hotels in attractive markets with high barriers to entry. It also prides itself on maintaining strong relationships with its franchisors and management companies, while also partnering with local communities to enhance the guest experience.

Summit's financial performance has been solid in recent years, with strong revenue growth and consistent profitability. Its net income for 2020 was $18.5 million, which represents a 34.2% increase from the prior year. Additionally, the company has a strong liquidity position, with a cash balance of $155.1 million as of December 31, 2020, providing flexibility for future investments.

Overall, Summit Hotel Properties Inc. is a well-capitalized REIT that offers investors exposure to the premium-branded upscale and upper-upscale hotel market in the United States. Its strong relationships with franchisors and management companies, coupled with its strategic focus on attractive markets, make it an attractive investment option for those looking to gain exposure to the lodging industry.


   Company Address: 13215 Bee Cave Parkway Austin 78738 TX
   Company Phone Number: 538-2300   Stock Exchange / Ticker: NYSE INN


   

Stock Performances by Major Competitors

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Summit Hotel Properties Inc

Summit Hotel Properties Inc. Quietly Defies Market Trends with Surprising Profit Amid Declining Revenue?April to June 2024 Results

Year to date, shares of Summit Hotel Properties Inc have underperformed the market by 12.68%. Despite this, the company has managed to turn a profit despite lower sales, with earnings per share (EPS) at $0.23 in the April to June 30, 2024 fiscal span. However, revenue declined by 0.303% to $193.90 million compared to the previous year reporting period.
In contrast, the rest of the Real Estate Investment Trusts (REITs) sector experienced top-line growth in the second quarter of 2024. EPS for Summit Hotel Properties Inc improved from -$0.02 per share to a positive value, and revenue grew by 3.062% from $188.14 million. Net income also saw a significant increase, rising by 461.8% to $34.815 million from $6.197 million in the same fiscal span a year ago.

Summit Hotel Properties Inc

Summit Hotel Properties Inc Shows Promise with Decrease in Loss per Share in Q1 2024

Summit Hotel Properties Inc Reports Decrease in Loss per Share for Q1 2024
AUSTIN, Texas - Summit Hotel Properties Inc (NYSE: INN) has announced its financial results for the first quarter of 2024, showing a decrease in loss per share compared to the same period last year. The real estate investment trust specializing in upscale and upper-midscale select-service hotels reported a loss per share of $-0.02 for the January to March 31 timeframe, an improvement from $-0.05 per share in the previous year.
Furthermore, the company's earnings per share also showed improvement, increasing from $-0.16 per share in the prior reporting season. Revenue also demonstrated moderate growth, rising by 3.158% to $188.14 million, compared to $182.38 million in the same reporting season a year ago. Sequentially, revenue surged by 6.034% from $177.44 million.

Summit Hotel Properties Inc

Struggles Persist for Summit Hotel Properties Inc Despite Revenue Growth



Summit Hotel Properties Inc (NYSE: INN), a prominent real estate investment trust (REIT) specializing in upscale and upper-midscale select-service hotels, recently released its financial results for the fourth quarter of the 2023 earnings season. The results showcased a mix of positive and negative trends, highlighting both challenges and opportunities for the company moving forward.
Financial Performance:
For the fourth quarter of 2023, Summit Hotel Properties Inc experienced an increased loss per share of $-0.16 compared to $-0.15 for the same period a year ago. Additionally, the loss surged from $-0.05 per share from the previous financial reporting period. These figures indicate a declining trend in profitability, posing concerns for the company.

Dividend

Summit Hotel Properties Wows Shareholders with Cash Dividend Declaration, Stock Surges by 5.71%!

Published Thu, Jan 25 2024 10:00 PM UTC

Summit Hotel Properties Announces Cash Dividend, Bringing Positive Impact to Shareholders
AUSTIN, Texas, Jan. 25, 2024 - Summit Hotel Properties, Inc. (NYSE: INN), a leading real estate investment trust specializing in upscale and upper-midscale select-service hotels, has declared a cash dividend for the fourth quarter ended December 31, 2023, of $0.06 per share of commo...

Summit Hotel Properties Inc

2. Unveiling Complex Financial Results: A Closer Look at Summit Hotel Properties Inc's Recent Challenges and Growth Prospects



The financial results of Summit Hotel Properties Inc for the period ending September 30, 2023, paint a complex picture for the company. With a noticeable increase in losses per share, a decline in net income, and a lower operating margin, Summit Hotel Properties Inc faces several challenges ahead. However, there are also signs that hint at potential opportunities for growth, including a rise in revenue and accounts receivable. This article aims to analyze the implications of these results and explore the future outlook for the company.
1. Increased Losses and Declining Net Income:
Summit Hotel Properties Inc experienced a loss per share of $-0.05, compared to breakeven results the previous year and a loss of $-0.01 in the preceding reporting period. Furthermore, net income fell by a significant -59.47%, reaching $3.485 million. These figures indicate a concerning trend for the company, demonstrating the need for strategic measures to address the declining profitability.







Summit Hotel Properties Inc's Segments





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