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Summit Hotel Properties inc   (INN)
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Price: $6.2000 $-0.11 -1.743%
Day's High: $6.34 Week Perf: -3.73 %
Day's Low: $ 6.15 30 Day Perf: -2.82 %
Volume (M): 1,557 52 Wk High: $ 7.26
Volume (M$): $ 9,656 52 Wk Avg: $6.33
Open: $6.23 52 Wk Low: $5.31



 Market Capitalization (Millions $) 643
 Shares Outstanding (Millions) 104
 Employees 3,152
 Revenues (TTM) (Millions $) 736
 Net Income (TTM) (Millions $) 7
 Cash Flow (TTM) (Millions $) -14
 Capital Exp. (TTM) (Millions $) 135

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, Suite B-300 Austin 78738 TX
   Company Phone Number: 538-2300   Stock Exchange / Ticker: NYSE INN
   


   

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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

Summit Hotel Properties Inc Reports Q2 2023 Financial Results: Revenue Surges, Net Income Declines

Summit Hotel Properties Inc, a real estate investment trust (REIT), has reported its financial performance for the second quarter of 2023. While the company experienced widened losses compared to the previous year, it also saw improved earnings per share from the prior reporting season. Furthermore, Summit Hotel Properties Inc achieved significant revenue growth, outperforming its sector contemporaries. However, the net income for the second quarter of 2023 decreased by nearly 60% compared to the same period in the previous year.
The financial second quarter of 2023 saw Summit Hotel Properties Inc face challenges with losses widening to $-0.01 per share, compared to $0.07 per share in the previous year. Despite this, the company managed to improve its earnings per share from $-0.05 to an undisclosed amount. The revenue for the quarter grew by 6.136% to $194.49 million, exceeding the $183.25 million reported in the same period a year prior. Sequentially, the revenue displayed a 6.64% growth from $182.38 million. These figures highlight Summit Hotel Properties Inc's ability to outperform its sector, as the rest of the Real Estate Investment Trusts sector achieved only a 5.24% revenue advance in the same time frame.
However, the net income for the financial second quarter of 2023 was not as positive. Falling by -59.7% to $6.197 million from $15.377 million in the corresponding period a year ago, this decrease may raise concerns for investors and stakeholders. Summit Hotel Properties Inc recognized the need to improve sales during this quarter, resulting in a net margin easing to 3.19%.
Additionally, the company faced challenges on the operating side. Operating earnings fell by -45.61% to $23.439 million, leading to a decline in the operating margin from 23.52% in the second quarter of 2022 to 12.05% in the second quarter of 2023. This decrease emphasizes the need for Summit Hotel Properties Inc to address operational efficiency in order to maintain profitability.

Summit Hotel Properties Inc

Strong Earnings Boosted by $0.47 Million Tax Benefit for Summit Hotel Properties Inc

The past financial year has demonstrated significant growth for Summit Hotel Properties Inc, as shown by their impressive financial results. These results have demonstrated that the company is making strong strides towards profitability and stability, and it is set to continue this trend in the coming years.
The company has shown remarkable improvement, having decreased its loss per share from $-0.12 to $-0.05 per share in the previous financial year. Additionally, its income per share has improved significantly, jumping from $-0.15 to a positive result in the current reporting period. These figures indicate that Summit Hotel Properties Inc is making great strides in terms of becoming a more profitable company.






 

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