Summit Hotel Properties (INN) Beats Q1 FFO Estimates

Summit Hotel Properties (INN) came out with quarterly funds from operations (FFO) of $0.22 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to FFO of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 4.76%. A quarter ago, it was expected that this real estate investment trust specializing in higher end hotels would post FFO of $0.19 per share when it actually produced FFO of $0.20, delivering a ...