Core Insights - Summit Hotel Properties, Inc. reported a full-year operating income of $103.5 million and an adjusted EBITDAre of $192.2 million for 2024, with an AFFO increase of 5.6% to $0.96 per share [1][5][7] - The company completed over $200 million in accretive transaction activity in 2024, including the acquisition of two hotels for $96 million, which reflects an 8.8% net capitalization rate based on 2024 net operating income [2][11][12] - The outlook for 2025 is positive, driven by stable demand trends and anticipated growth in urban markets, with expected pro forma RevPAR growth between 1.00% and 3.00% [3][20] Financial Performance - For Q4 2024, net income attributable to common stockholders was $0.7 million, or $0.01 per diluted share, compared to a net loss of $16.6 million, or $0.16 per diluted share, in Q4 2023 [7][8] - Pro forma RevPAR increased by 1.4% to $117.21 in Q4 2024, while same-store RevPAR increased by 1.3% to $116.52 [7][8] - Total revenues for the full year 2024 were $731.8 million, a slight decrease from $736.1 million in 2023 [8][33] Acquisition and Disposition Activity - The company acquired the Hampton Inn Boston-Logan Airport and Hilton Garden Inn Tysons Corner, enhancing its portfolio quality and growth profile [2][11] - In 2024, the company sold five hotels for nearly $112 million, contributing to a total of 10 hotels sold since 2023 for approximately $150 million [14][15] Capital Structure and Dividends - As of December 31, 2024, the company had outstanding debt of $1.1 billion with a weighted average interest rate of 4.55% [21] - The company declared a quarterly cash dividend of $0.08 per share, representing an annualized yield of 5.1% based on the closing price on February 21, 2025 [17][18] 2025 Outlook - The company anticipates adjusted EBITDAre for 2025 to be between $184 million and $198 million, with adjusted FFO projected between $111.9 million and $125.6 million [20][19] - Capital expenditures for 2025 are expected to range from $65 million to $85 million [20]

Company Overview - Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded lodging facilities with efficient operating models primarily in the upscale segment of the lodging industry [2] - As of February 19, 2025, the Company's portfolio consisted of 97 assets, 53 of which are wholly owned, with a total of 14,553 guestrooms located in 25 states [2] Upcoming Events - The 2025 Annual Meeting of Stockholders will be held on May 21, 2025, at 8:00 a.m. Eastern Time [1] - The meeting location is the Courtyard by Marriott Oceanside Fort Lauderdale Beach, 440 Seabreeze Boulevard, Fort Lauderdale, Florida 33316 [1] - The meeting is open to all stockholders of record as of March 5, 2025 [1]

Core Viewpoint - Summit Hotel Properties, Inc. has declared cash dividends for both common and preferred stock for the fourth quarter of 2024 and the upcoming dividend period ending February 28, 2025, reflecting the company's commitment to returning value to shareholders [1][2][3]. Dividend Announcements - The company declared a cash dividend of $0.08 per share for the fourth quarter ended December 31, 2024, which corresponds to an annualized dividend yield of 4.8% based on the closing stock price on January 22, 2025 [1]. - A cash dividend of $0.390625 per share has been authorized for the 6.25% Series E Cumulative Redeemable Preferred Stock for the dividend period ending February 28, 2025 [2]. - A cash dividend of $0.3671875 per share has been declared for the 5.875% Series F Cumulative Redeemable Preferred Stock for the same dividend period [2]. - Additionally, a cash distribution of $0.328125 per unit has been authorized for the unregistered 5.25% Series Z Cumulative Perpetual Preferred Units for the distribution period ending February 28, 2025 [3]. - All dividends are payable on February 28, 2025, to holders of record as of February 14, 2025 [3]. Company Overview - Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded lodging properties primarily in the Upscale segment of the lodging industry [4]. - As of January 23, 2025, the company's portfolio consists of 97 assets, including 53 wholly owned properties, with a total of 14,553 guestrooms located across 25 states [4].

Group 1 - The article discusses the investment potential of hotel REITs, particularly focusing on their preferred shares, which may offer interesting opportunities for investors [1] - The investment group European Small Cap Ideas specializes in high-quality small-cap investment opportunities in Europe, emphasizing capital gains and dividend income [1] - The group provides two model portfolios: the European Small Cap Ideas portfolio and the European REIT Portfolio, along with weekly updates and educational content [1] Group 2 - The article does not provide specific financial data or performance metrics related to the hotel REITs or the investment group [2]

When it comes to earning investment income, one of the most relevant investment vehicles is Real Estate Investment Trusts (REITs). REITs must distribute at least 90% of their taxable earnings out as dividends. This can lead to incredibly high dividend yields, sometimes reaching into the double digits. Ultimately, REITs can provide big-time dividend income, especially if bought at the right price. They also provide exposure to the real estate market without needing to invest in and maintain physical property ...

AUSTIN, Texas, Jan. 9, 2025 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it will report financial results for the fourth quarter and full year of 2024 on Monday, February 24, 2025, after the market closes. The Company will conduct its quarterly conference call on Tuesday, February 25, 2025, at 9:00 AM ET. To access the conference call, please pre-register using this link. Registrants will receive a confirmation with dial-in details. A live webcast of the co ...

Core Viewpoint - Summit Hotel Properties reported quarterly funds from operations (FFO) of $0.22 per share, exceeding the Zacks Consensus Estimate of $0.20 per share, and matching the FFO from the same quarter last year [1][2] Financial Performance - The quarterly FFO surprise was 10%, with the company previously expected to post $0.26 per share but actually producing $0.29, resulting in an 11.54% surprise [2] - Revenues for the quarter ended September 2024 were $176.81 million, surpassing the Zacks Consensus Estimate by 0.32%, but down from $181.82 million year-over-year [3] - Over the last four quarters, the company has consistently exceeded consensus FFO and revenue estimates [2][3] Stock Performance and Outlook - Summit Hotel Properties shares have declined approximately 9.1% year-to-date, contrasting with the S&P 500's gain of 20.1% [4] - The company's future stock performance will largely depend on management's commentary during the earnings call and the outlook for FFO [4][5] - Current consensus FFO estimate for the upcoming quarter is $0.20 on revenues of $172.74 million, and for the current fiscal year, it is $0.94 on revenues of $731.03 million [8] Industry Context - The REIT and Equity Trust - Other industry, to which Summit Hotel Properties belongs, is currently ranked in the top 27% of over 250 Zacks industries, indicating a favorable industry outlook [9] - Empirical research suggests a strong correlation between near-term stock movements and trends in estimate revisions, which can impact investor sentiment [6]

Four Points San Francisco Airport Hotel Sold for $17.7 Million Subsequent to Quarter-EndAUSTIN, Texas, Nov. 4, 2024 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company"), today announced results for the three and nine months ended September 30, 2024."We are pleased with our third quarter financial results highlighted by our third consecutive quarter of Adjusted FFO growth as our accretive capital recycling program strategy offset moderate top-line growth in the quarter, that was negative ...

While I'm not a big fan of hotel REITs, this subtype of REITs sometimes has an attractive series of preferred shares in its capital structure. While this obviously reduces an investment thesis to just generating a (hopefully steady) income He is the leader of the investment group European Small Cap Ideas which offers exclusive access to actionable research on appealing Europe-focused investment opportunities not found elsewhere. The a focus is on highquality ideas in the small-cap space, with emphasis on ca ...

Core Viewpoint - Summit Hotel Properties, Inc. has declared cash dividends for the third quarter of 2024, reflecting a commitment to returning value to shareholders through consistent dividend payments [1][2]. Dividend Announcements - The Company has declared a cash dividend of $0.08 per share for the third quarter ended September 30, 2024, which corresponds to an annualized dividend yield of 5.2% based on the closing stock price on October 23, 2024 [1]. - Additionally, the Company announced a cash dividend of $0.390625 per share for its 6.25% Series E Cumulative Redeemable Preferred Stock and $0.3671875 per share for its 5.875% Series F Cumulative Redeemable Preferred Stock, both for the dividend period ending on November 30, 2024 [1][2]. - The operating partnership will distribute $0.328125 per unit for its unregistered 5.25% Series Z Cumulative Perpetual Preferred Units for the same distribution period [2]. Company Overview - Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded lodging properties, primarily in the Upscale segment of the lodging industry [3]. - As of September 30, 2024, the Company's portfolio includes 96 assets, with 54 wholly owned properties and a total of 14,255 guestrooms located across 24 states [3].