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Summit Hotel Properties Inc (INN.N)

INN.N on New York Stock Exchange

13.67USD
12:20pm EDT
Change (% chg)

$0.13 (+0.96%)
Prev Close
$13.54
Open
$13.51
Day's High
$13.75
Day's Low
$13.50
Volume
51,628
Avg. Vol
207,638
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$16.39
52-wk Low
$12.78

Latest Key Developments (Source: Significant Developments)

Summit Hotel Properties Qtrly FFO Per Share $0.25
Wednesday, 21 Feb 2018 04:40pm EST 

Feb 21 (Reuters) - Summit Hotel Properties Inc ::SUMMIT HOTEL PROPERTIES REPORTS FOURTH QUARTER AND FULL YEAR 2017 RESULTS.Q4 ADJUSTED FFO PER SHARE $0.30.QTRLY FFO PER SHARE $ 0.25.Q4 FFO PER SHARE VIEW $0.28 -- THOMSON REUTERS I/B/E/S.QTRLY PRO FORMA REVPAR INCREASED 5.5 PERCENT FROM SAME PERIOD IN 2016 TO $111.96.QTRLY SAME-STORE REVPAR INCREASED 3.6 PERCENT FROM SAME PERIOD IN 2016 TO $107.07.SEES Q1 2018 ADJUSTED FFO PER DILUTED UNIT OF $0.28 TO $0.31.SEES FY 2018 ADJUSTED FFO PER DILUTED UNIT $1.33TO $1.45.SEES Q1 2018 PRO FORMA REVPAR OF $115.25 TO $117.50.SEES FY 2018 PRO FORMA REVPAR OF $117.75 TO $121.25.SEES Q1 2018 SAME-STORE REVPAR OF $112.50 TO $114.75.SEES FY 2018 SAME-STORE REVPAR OF $116.00 TO $119.50.Q1 FFO PER SHARE VIEW $0.34 -- THOMSON REUTERS I/B/E/S.FY2018 FFO PER SHARE VIEW $1.46 -- THOMSON REUTERS I/B/E/S.  Full Article

Summit Hotel Properties Increases Common Dividend By 6%
Monday, 5 Feb 2018 04:30pm EST 

Feb 5 (Reuters) - Summit Hotel Properties Inc ::SUMMIT HOTEL PROPERTIES INCREASES COMMON DIVIDEND BY 6% AND DECLARES FOURTH QUARTER 2017 DIVIDENDS.SUMMIT HOTEL PROPERTIES INC - CO'S Q4 COMMON DIVIDEND REPRESENTS AN INCREASE OF $0.01 PER SHARE, OR 5.9 PERCENT, OVER PRIOR QUARTER'S COMMON DIVIDEND.  Full Article

Summit Hotel Properties announces CFO succession plan
Monday, 13 Nov 2017 04:30pm EST 

Nov 13 (Reuters) - Summit Hotel Properties Inc ::Summit Hotel Properties announces CFO succession plan.Says CFO Gregory A. Dowell to retire.Summit Hotel Properties - Jonathan Stanner to succeed CFO Greg Dowell in 2018​.  Full Article

Summit Hotel Properties reports Q3 adjusted FFO per share $0.35
Monday, 30 Oct 2017 04:35pm EDT 

Oct 30 (Reuters) - Summit Hotel Properties Inc :Summit Hotel Properties Inc reports third quarter 2017 results.Q3 adjusted FFO per share $0.35.Summit Hotel Properties Inc qtrly ‍pro forma RevPAR increased 1.2 percent to $119.13 from same period in 2016​.Summit Hotel Properties Inc - qtrly ‍same-store RevPAR grew to $115.04, an increase of 0.6 percent from same period in 2016​.Summit Hotel Properties Inc qtrly ‍ffo per share $0.33​.Q3 FFO per share view $0.34 -- Thomson Reuters I/B/E/S.Summit Hotel Properties Inc - ‍through remainder of 2017, company expects to invest $15 million to $20 million in capital improvements​.Summit Hotel Properties Inc - sees ‍Q4 pro forma RevPAR in the range of $107.75 to $109.75​.Summit Hotel Properties Inc - sees Q4 ‍adjusted FFO per diluted unit in the range of $0.26 to $0.29​.Summit Hotel Properties Inc - sees fy ‍pro forma RevPAR to be in the range of $116.25 to $116.75​.Summit Hotel Properties Inc - sees fy ‍adjusted FFO per diluted unit to be in the range of $1.29 to $1.32​.  Full Article

Summit Hotel Properties announced closing of new $225 mln unsecured term loan
Monday, 2 Oct 2017 04:30pm EDT 

Oct 2 (Reuters) - Summit Hotel Properties Inc :Summit Hotel Properties Inc - announced closing of new $225 million unsecured term loan.Summit Hotel Properties-loan includes accordion feature that allows co to request an increase in lender commitments up to an aggregate of $400 million.Summit Hotel Properties - on October 2 co entered into two, $100 million interest rate swap agreements with an effective date of January 29, 2018.Summit Hotel Properties Inc - ‍swaps convert Libor from floating rate to an average fixed rate of 1.98% through January 31, 2023​.  Full Article

Summit Hotel adjusted FFO per share $0.36
Wednesday, 2 Aug 2017 04:40pm EDT 

Aug 2 (Reuters) - Summit Hotel Properties Inc ::Summit Hotel Properties reports second quarter 2017 results.Q2 adjusted FFO per share $0.36.Q2 revenue $129.1 million versus I/B/E/S view $132.2 million.Qtrly FFO per diluted share and unit $0.33.Sees Q3 adjusted FFO per diluted unit $0.32 - $0.35.Sees FY 2017 adjusted FFO per diluted unit $1.28 - $1.34.Summit Hotel Properties Inc - sees FY17 capital improvements in range of $35 million - $45 million.Sees 2017 pro forma revpar growth 0.00% to 1.00%.  Full Article

Summit Hotel, Xenia Hotels & Resorts announce agreement on $163 mln transaction
Monday, 5 Jun 2017 06:45am EDT 

June 5 (Reuters) - Summit Hotel Properties Inc ::Summit Hotel Properties and Xenia Hotels & Resorts announce agreement on $163 million transaction.Xenia Hotels & Resorts Inc - in conjunction with acquisitions, summit will be executing new franchise agreements with respective franchisors for hotels.Xenia Hotels & Resorts Inc - expects to spend approximately $13 million to $16 million in capital improvements required under agreements over next two years.  Full Article

Summit Hotel Properties prices public offering of 9 mln shares at $16.50/share
Tuesday, 9 May 2017 11:01pm EDT 

May 9 (Reuters) - Summit Hotel Properties Inc ::Announces pricing of public offering of common stock.Says public offering of 9.00 million common shares priced at $16.50per share.  Full Article

Summit Hotel Properties announces public offering of common stock
Tuesday, 9 May 2017 04:08pm EDT 

May 9 (Reuters) - Summit Hotel Properties Inc :Summit Hotel Properties announces public offering of common stock.Says offering 9.00 million common shares.  Full Article

Summit Hotel Properties reports Q1 adjusted FFO per share $0.32
Wednesday, 3 May 2017 04:40pm EDT 

May 3 (Reuters) - Summit Hotel Properties Inc :Summit Hotel Properties reports first quarter 2017 results.Q1 adjusted FFO per share $0.32.Summit Hotel Properties Inc - Qtrly pro forma revenue per available room grew to $112.50, an increase of 1.5 percent.Summit Hotel Properties Inc qtrly same-store revpar grew to $109.78, an increase of 0.2 percent over same period in 2016.Summit Hotel Properties Inc - Qtrly FFO per diluted share and unit $ 0.30.Summit Hotel Properties Inc - "Maintaining our full year 2017 outlook for revpar growth and adjusted FFO per share".  Full Article

BRIEF-Summit Hotel Properties Qtrly FFO Per Share $0.25

* SUMMIT HOTEL PROPERTIES REPORTS FOURTH QUARTER AND FULL YEAR 2017 RESULTS