Summit Hotel Properties Aktie News

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.

With a -4.27% average total return in April, REITs have now seen declines in 3 of the first 4 months of 2024. Micro caps (-2.71%) and small caps (-2.87%) averaged low single digit declines in April, while mid-caps (-5.36%) and large caps (-5.99%) performed even worse. 78.71% of REIT securities had a negative total return in April.

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 ...

Operating Income of $23.5 million for First Quarter 2024 Adjusted EBITDAre Grows 10% to $48.8 million; Adjusted FFO Increases 14% to $0.24 per Share Sale of Three Hotels for $84.0 Million Further Deleverages Balance Sheet Subsequent to Quarter End Common Dividend Increased 33% to Annualized $0.32 per Share AUSTIN, Texas , May 1, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (th...

NEW YORK , April 8, 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.

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.