About Summit Hotel Properties (NYSE:INN)
Summit Hotel Properties, Inc. is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company's portfolio consists of 79 hotels with a total of 11,590 guestrooms located in 24 states. The Company's hotels are located in markets, such as business and corporate headquarters, retail centers, airports and tourist attractions. The Company's portfolio is located in urban and suburban markets. Based on total number of guestrooms, approximately 92% of the Company's portfolio is positioned in over 50 metropolitan statistical areas (MSAs), and approximately 96% is located within over 100 MSAs. Based on total number of guestrooms, approximately 99% of the Company's hotels operate under franchise brands owned by Marriott International, Inc., Hilton Worldwide, InterContinental Hotels Group, and an affiliate of Hyatt Hotels Corporation.
Industry, Sector and Symbol
Industry Hospitality REITs
Trailing P/E Ratio11.57
Forward P/E Ratio12.10
Sales & Book Value
Annual Sales$473.93 million
Price / Sales3.38
Cash Flow$2.09 per share
Price / Cash7.37
Book Value$11.58 per share
Price / Book1.33
Net Income$107.80 million
Return on Equity8.96%
Return on Assets5.28%
Frequently Asked Questions for Summit Hotel Properties (NYSE:INN)
What is Summit Hotel Properties' stock symbol?
Summit Hotel Properties trades on the New York Stock Exchange (NYSE) under the ticker symbol "INN."
How often does Summit Hotel Properties pay dividends? What is the dividend yield for Summit Hotel Properties?
Summit Hotel Properties declared a quarterly dividend on Monday, October 30th. Stockholders of record on Thursday, November 16th will be given a dividend of $0.17 per share on Thursday, November 30th. This represents a $0.68 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Wednesday, November 15th. View Summit Hotel Properties' Dividend History.
How were Summit Hotel Properties' earnings last quarter?
Summit Hotel Properties, Inc. (NYSE:INN) issued its earnings results on Monday, October, 30th. The real estate investment trust reported $0.17 EPS for the quarter, hitting the Thomson Reuters' consensus estimate of $0.17. The real estate investment trust earned $136.60 million during the quarter, compared to analyst estimates of $135.69 million. Summit Hotel Properties had a return on equity of 8.96% and a net margin of 20.21%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. View Summit Hotel Properties' Earnings History.
What guidance has Summit Hotel Properties issued on next quarter's earnings?
Summit Hotel Properties issued an update on its FY17 earnings guidance on Monday, October, 30th. The company provided EPS guidance of $1.29-$1.32 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.31. Summit Hotel Properties also updated its Q4 guidance to $0.26-$0.29 EPS.
Where is Summit Hotel Properties' stock going? Where will Summit Hotel Properties' stock price be in 2017?
9 brokerages have issued 1-year target prices for Summit Hotel Properties' shares. Their forecasts range from $14.00 to $20.00. On average, they expect Summit Hotel Properties' stock price to reach $17.19 in the next twelve months. View Analyst Ratings for Summit Hotel Properties.
What are Wall Street analysts saying about Summit Hotel Properties stock?
Here are some recent quotes from research analysts about Summit Hotel Properties stock:
- 1. According to Zacks Investment Research, "Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused primarily on owning premium-branded, select-service hotels in the upscale and upper midscale segments of the lodging industry. " (11/23/2017)
- 2. Cantor Fitzgerald analysts commented, "Asset Recycling. On 11/13, the company announced the acquisition of four hotels that have 652 rooms for $164m at a 7.8% cap rate (including capex). The hotels are located in New Haven, Boston/Waltham, Cleveland and Tucson. Three markets are new for the company and, as a result, add further to regional diversification. The company plans to spend $7-9m in capital improvements over the next two years (more than 50% of the improvement is expected for the hotel in Boston). TTM RevPAR (as of 3Q17) for the four hotels is about 10% higher than the company’s RevPAR for the same period. These acquisitions bring the YTD total to $600m and are in line with the company’s acquisition strategy, which is focused on upscale hotels and value-add opportunities such as renovations. We expect acquisitions to continue and currently include $200m of additional acquisitions for 2018. YTD, the company has sold hotels for $120.2m and remains opportunistic in regard to dispositions." (11/20/2017)
Who are some of Summit Hotel Properties' key competitors?
Some companies that are related to Summit Hotel Properties include LaSalle Hotel Properties (LHO), Pebblebrook Hotel Trust (PEB), Xenia Hotels & Resorts (XHR), Diamondrock Hospitality Company (DRH), MGM Growth Properties LLC (MGP), Ryman Hospitality Properties (GET), Chesapeake Lodging Trust (CHSP), Chatham Lodging Trust (REIT) (CLDT), FelCor Lodging Trust Incorporated (FCH), Hersha Hospitality Trust (HT), Ashford Hospitality Trust (AHT), Empiric Student Property (ESP), Ashford Hospitality Prime (AHP), Sotherly Hotels (SOHO) and Strategic Hotels and Resorts (BEE).
Who are Summit Hotel Properties' key executives?
Summit Hotel Properties' management team includes the folowing people:
- Daniel P. Hansen, Chairman of the Board, President, Chief Executive Officer (Age 48)
- Craig J. Aniszewski, Chief Operating Officer, Executive Vice President (Age 53)
- Jonathan P. Stanner, Chief Financial Officer, Executive Vice President, Chief Investment Officer (Age 36)
- Christopher R. Eng, Executive Vice President, Chief Risk Officer, General Counsel, Secretary (Age 45)
- Paul Ruiz, Chief Accounting Officer, Vice President
- Gregory A. Dowell, Chief Financial Officer, Executive Vice President, Treasurer (Age 53)
- Jeffrey W. Jones, Lead Independent Director (Age 55)
- Bjorn R. L. Hanson Ph.D., Independent Director (Age 65)
- Kenneth J. Kay, Independent Director (Age 62)
- Thomas W. Storey, Independent Director (Age 60)
Who owns Summit Hotel Properties stock?
Summit Hotel Properties' stock is owned by a number of of retail and institutional investors. Top institutional shareholders include Principal Financial Group Inc. (3.97%), Macquarie Group Ltd. (2.86%), Bank of New York Mellon Corp (1.63%), Dimensional Fund Advisors LP (1.38%), JPMorgan Chase & Co. (1.28%) and Systematic Financial Management LP (1.27%). Company insiders that own Summit Hotel Properties stock include Craig J Aniszewski and Daniel P Hansen. View Institutional Ownership Trends for Summit Hotel Properties.
Who sold Summit Hotel Properties stock? Who is selling Summit Hotel Properties stock?
Summit Hotel Properties' stock was sold by a variety of institutional investors in the last quarter, including Comerica Bank, JPMorgan Chase & Co., American Century Companies Inc., ClariVest Asset Management LLC, Susquehanna International Group LLP, Bank of New York Mellon Corp, Public Employees Retirement System of Ohio and Investment Centers of America Inc.. View Insider Buying and Selling for Summit Hotel Properties.
Who bought Summit Hotel Properties stock? Who is buying Summit Hotel Properties stock?
Summit Hotel Properties' stock was purchased by a variety of institutional investors in the last quarter, including Westpac Banking Corp, Prudential Financial Inc., Allianz Asset Management GmbH, Principal Financial Group Inc., Citadel Advisors LLC, Schwab Charles Investment Management Inc., Mutual of America Capital Management LLC and Wasatch Advisors Inc.. Company insiders that have bought Summit Hotel Properties stock in the last two years include Craig J Aniszewski and Daniel P Hansen. View Insider Buying and Selling for Summit Hotel Properties.
How do I buy Summit Hotel Properties stock?
Shares of Summit Hotel Properties can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Summit Hotel Properties' stock price today?
One share of Summit Hotel Properties stock can currently be purchased for approximately $15.37.
How big of a company is Summit Hotel Properties?
Summit Hotel Properties has a market capitalization of $1.60 billion and generates $473.93 million in revenue each year. The real estate investment trust earns $107.80 million in net income (profit) each year or $0.82 on an earnings per share basis. Summit Hotel Properties employs 44 workers across the globe.
How can I contact Summit Hotel Properties?
Summit Hotel Properties' mailing address is 12600 Hill Country Boulevard SuiteR-100, Austin TX, 78738. The real estate investment trust can be reached via phone at 512-538-2300 or via email at [email protected]
MarketBeat Community Rating for Summit Hotel Properties (INN)MarketBeat's community ratings are surveys of what our community members think about Summit Hotel Properties and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Analysts' Consensus Rating for Summit Hotel Properties (NYSE:INN) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||1 Sell Rating, 1 Hold Rating, 7 Buy Ratings, 0 Strong Buy Ratings|
|Consensus Rating:||Buy (Score: 2.67)|
|Consensus Price Target: ||$17.19 (11.82% upside)|
Consensus Price Target History for Summit Hotel Properties (NYSE:INN)
Analysts' Ratings History for Summit Hotel Properties (NYSE:INN)
(Data available from 11/23/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|11/20/2017||Cantor Fitzgerald||Reiterated Rating||Buy||$17.00||N/A|
|11/20/2017||Janney Montgomery Scott||Downgrade||Buy -> Neutral||N/A|
|10/30/2017||Raymond James Financial, Inc.||Upgrade||Market Perform -> Outperform||$17.50||N/A|
|10/29/2017||KeyCorp||Set Price Target||Buy||$17.00||N/A|
|9/8/2017||Robert W. Baird||Reiterated Rating||Buy||$17.00||Low|
|8/14/2017||Bank of America Corporation||Downgrade||Buy -> Underperform||$19.00 -> $14.00||Low|
|8/9/2017||Deutsche Bank AG||Reiterated Rating||Buy||$19.00 -> $17.00||Medium|
|8/4/2017||Canaccord Genuity||Lower Price Target||Buy||$21.00 -> $18.00||Low|
|8/4/2017||Royal Bank Of Canada||Reiterated Rating||Buy||$20.00||Low|
|8/4/2016||JMP Securities||Boost Price Target||Market Outperform||$14.00 -> $15.50||N/A|
|3/11/2016||Leerink Swann||Initiated Coverage||Buy -> Outperform||N/A|
|1/8/2016||BB&T Corporation||Initiated Coverage||Buy||$14.50||N/A|
|12/8/2015||Summit Research||Reiterated Rating||Buy||$41.00||N/A|
Earnings History and Estimates Chart for Summit Hotel Properties (NYSE:INN)
Earnings History by Quarter for Summit Hotel Properties (NYSE INN)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|10/30/2017||Q3 2017||$0.17||$0.17||$135.69 million||$136.60 million||View||N/A|
|8/2/2017||Q2 2017||$0.38||$0.36||$132.21 million||$124.11 million||View||Listen|
|2/23/2017||Q416||$0.03||$0.30||$110.08 million||$110.33 million||View||N/A|
|11/2/2016||Q316||$0.33||$0.37||$117.99 million||$118.34 million||View||N/A|
|8/2/2016||Q216||$0.39||$0.42||$127.70 million||$127.19 million||View||N/A|
|5/3/2016||Q116||$0.31||$0.32||$116.68 million||$118.10 million||View||N/A|
|2/24/2016||Q415||$0.23||$0.27||$108.00 million||$110.04 million||View||Listen|
|11/2/2015||Q315||$0.34||$0.37||$122.64 million||$125.09 million||View||N/A|
|8/3/2015||Q215||$0.33||$0.34||$119.18 million||$120.60 million||View||N/A|
|5/4/2015||Q115||$0.24||$0.27||$105.17 million||$107.60 million||View||N/A|
|3/2/2015||Q414||$0.18||$0.20||$94.61 million||$99.10 million||View||N/A|
|11/3/2014||Q314||$0.26||$0.30||$102.63 million||$109.26 million||View||N/A|
|8/6/2014||Q114||$0.26||$0.28||$101.11 million||$105.53 million||View||N/A|
|5/12/2014||Q1||$0.18||$0.19||$87.33 million||$89.50 million||View||Listen|
|3/17/2014||Q4||$0.13||$0.14||$80.09 million||$77.96 million||View||Listen|
|11/7/2012||Q312||$0.25||$0.26||$49.71 million||$51.23 million||View||N/A|
Earnings Estimates for Summit Hotel Properties (NYSE:INN)
Current Year EPS Consensus Estimate: $1.27 EPS
Next Year EPS Consensus Estimate: $1.38 EPS
Current Dividend Information for Summit Hotel Properties (NYSE:INN)
|Dividend Growth:||6.60% (3 Year Average)|
|Payout Ratio:||82.93% (Trailing 12 Months of Earnings) |
53.54% (Based on This Year's Estimates)
49.28% (Based on Next Year's Estimates)
|Track Record:||3 Years of Consecutive Dividend Growth|
Dividend History by Quarter for Summit Hotel Properties (NYSE INN)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Summit Hotel Properties (NYSE INN)
Insider Ownership Percentage: 1.71%
Institutional Ownership Percentage: 91.78%
Insider Trades by Quarter for Summit Hotel Properties (NYSE INN)
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|8/10/2017||Craig J Aniszewski||COO||Buy||750||$15.52||$11,640.00|| |
|8/9/2017||Daniel P Hansen||Chairman||Buy||10,000||$15.60||$156,000.00|| |
|8/14/2015||Greg A Dowell||CFO||Sell||2,000||$12.21||$24,420.00|| |
|8/12/2015||Daniel P Hansen||CEO||Buy||10,000||$12.19||$121,900.00|| |
|9/15/2014||Wayne Wielgus||Director||Buy||2,000||$10.31||$20,620.00|| |
|9/12/2014||Wayne Wielgus||Director||Buy||8,000||$10.51||$84,080.00|| |
|12/10/2013||Craig Aniszewski||COO||Buy||1,190||$8.83||$10,507.70|| |
|11/14/2013||Daniel Hansen||CEO||Buy||10,000||$8.83||$88,300.00|| |
|6/11/2013||Craig J Aniszewski||COO||Buy||2,129||$9.38||$19,970.02|| |
|3/8/2013||Wayne Wielgus||Director||Buy||5,000||$9.97||$49,850.00|| |
|11/19/2012||Troy L Hester||CAO||Buy||25,000||$8.45||$211,250.00|| |
Latest Headlines for Summit Hotel Properties (NYSE INN)
|Janney Montgomery Scott Downgrades Summit Hotel Properties, Inc. (INN) to Neutral|
www.americanbankingnews.com - November 20 at 8:52 PM
|Summit Hotel Properties, Inc. (INN) Earns "Buy" Rating from Cantor Fitzgerald|
www.americanbankingnews.com - November 20 at 7:32 PM
|Summit Hotel Properties, Inc. : INN-US: Dividend Analysis : November 16th, 2017 (record date) : By the numbers : November 16, 2017|
finance.yahoo.com - November 17 at 7:22 AM
|INN: Insiders Vs. Shorts|
www.thestreet.com - November 15 at 3:03 AM
|Summit Hotel Properties, Inc. (INN) Ex-Dividend Date Scheduled for November 15 ...|
www.nasdaq.com - November 15 at 3:03 AM
|Summit Hotel Properties (INN) to Acquire Four Hotels for $164M|
www.streetinsider.com - November 14 at 5:59 AM
|Summit Hotel Properties Announces CFO Succession Plan|
finance.yahoo.com - November 13 at 7:57 PM
|Summit Hotel Properties Announces Agreements to Acquire Four Hotels for $164 Million|
finance.yahoo.com - November 13 at 7:57 PM
|Summit Hotel Properties, Inc. breached its 50 day moving average in a Bullish Manner : INN-US : November 9, 2017|
finance.yahoo.com - November 11 at 12:27 PM
|$125.86 Million in Sales Expected for Summit Hotel Properties, Inc. (INN) This Quarter|
www.americanbankingnews.com - November 7 at 2:30 AM
|Summit Hotel Properties, Inc. (INN) Expected to Post Earnings of $0.29 Per Share|
www.americanbankingnews.com - November 5 at 7:16 PM
|Summit Hotel Properties, Inc. (INN) Receives Average Recommendation of "Buy" from Analysts|
www.americanbankingnews.com - November 5 at 3:46 AM
|Summit Hotel Properties Prices Public Offering Of 6.25% Series E Cumulative Redeemable Preferred Stock|
www.thestreet.com - November 3 at 9:58 AM
|Summit Hotel Properties Announces the Redemption of 7.875% Series B Cumulative Redeemable Preferred Stock|
finance.yahoo.com - November 3 at 9:58 AM
|Summit Hotel Properties (INN) Misses Q3 EPS by 1c|
www.streetinsider.com - November 1 at 3:55 AM
|Summit Hotel Properties' (INN) CEO Daniel Hansen on Q3 2017 Results - Earnings Call Transcript|
seekingalpha.com - November 1 at 3:55 AM
|Edited Transcript of INN earnings conference call or presentation 31-Oct-17 1:00pm GMT|
finance.yahoo.com - October 31 at 10:52 PM
|Summit Hotel Properties, Inc. (INN) Announces Earnings Results, Beats Expectations By $0.18 EPS|
www.americanbankingnews.com - October 31 at 8:34 AM
|Summit Hotel Properties, Inc. (INN) to Issue Quarterly Dividend of $0.17|
www.americanbankingnews.com - October 31 at 8:11 AM
|BRIEF-Summit Hotel Properties reports Q3 adjusted FFO per share $0.35|
www.reuters.com - October 30 at 10:14 PM
|Summit Hotel Properties Declares Third Quarter 2017 Dividends|
finance.yahoo.com - October 30 at 10:14 PM
|Summit Hotel Properties, Inc. (INN) Updates Q4 Earnings Guidance|
www.americanbankingnews.com - October 30 at 5:32 PM
|Summit Hotel Properties, Inc. (INN) Issues FY17 Earnings Guidance|
www.americanbankingnews.com - October 30 at 5:32 PM
|Summit Hotel Properties, Inc. (INN) Stock Rating Upgraded by Raymond James Financial, Inc.|
www.americanbankingnews.com - October 30 at 10:12 AM
|Short Interest In Summit Hotel Properties Increases 17%|
www.thestreet.com - October 26 at 1:52 PM
|Summit Hotel Properties, Inc. (INN) Scheduled to Post Quarterly Earnings on Tuesday|
www.americanbankingnews.com - October 24 at 6:12 AM
|La Salle Hotel Properties From The Perspective Of A Preferred Investor: An Update|
seekingalpha.com - October 24 at 12:40 AM
|Head-To-Head Survey: Park Hotels & Resorts (PK) & Summit Hotel Properties (INN)|
www.americanbankingnews.com - October 21 at 4:24 AM
|Summit Hotel Properties, Inc. (INN) Expected to Post Quarterly Sales of $136.42 Million|
www.americanbankingnews.com - October 19 at 1:46 PM
|Critical Review: Sunstone Hotel Investors (SHO) and Summit Hotel Properties (INN)|
www.americanbankingnews.com - October 12 at 4:24 PM
|Summit Hotel Properties, Inc. (INN) Given Consensus Recommendation of "Hold" by Brokerages|
www.americanbankingnews.com - October 11 at 4:50 AM
|3 Stocks to Watch on Tuesday: LVMH Moet Hennessy Louis Vuitton SE(ADR) (LVMUY), PS Business Parks Inc (PSB) and Summit Hotel Properties Inc (INN)|
investorplace.com - October 10 at 8:37 AM
|Summit Hotel Properties Announces Third Quarter 2017 Earnings Release Date|
finance.yahoo.com - October 9 at 7:52 PM
|BRIEF-Summit Hotel Properties announced closing of new $225 mln unsecured term loan|
www.reuters.com - October 2 at 11:10 PM
|Summit Hotel Properties Continues To Strengthen Balance Sheet With $225 Million Unsecured Term Loan|
finance.yahoo.com - October 2 at 6:08 PM
| Analysts Expect Summit Hotel Properties, Inc. (INN) Will Announce Earnings of $0.35 Per Share|
www.americanbankingnews.com - September 28 at 12:28 PM
|Summit Hotel Properties (INN) & The Competition Head-To-Head Survey|
www.americanbankingnews.com - September 28 at 10:20 AM
|Summit Hotel Properties, Inc. (INN) Upgraded at KeyCorp|
www.americanbankingnews.com - September 26 at 9:30 AM
|Head to Head Review: RLJ Lodging Trust (RLJ) & Summit Hotel Properties (INN)|
www.americanbankingnews.com - September 25 at 8:54 AM
|Financial Survey: Summit Hotel Properties (INN) versus Its Competitors|
www.americanbankingnews.com - September 19 at 10:28 PM
|Summit Hotel Properties, Inc. (INN) Given Consensus Recommendation of "Buy" by Brokerages|
www.americanbankingnews.com - September 16 at 4:42 AM
|Summit Hotel Properties, Inc. : INN-US: Dividend Analysis : August 16th, 2017 (record date) : By the numbers : September 14, 2017|
finance.yahoo.com - September 15 at 1:12 AM
|$136.42 Million in Sales Expected for Summit Hotel Properties, Inc. (INN) This Quarter|
www.americanbankingnews.com - September 11 at 5:48 AM
|Analyzing Summit Hotel Properties (INN) and Chesapeake Lodging Trust (CHSP)|
www.americanbankingnews.com - September 10 at 6:26 PM
|Comparing Summit Hotel Properties (INN) and its Peers|
www.americanbankingnews.com - September 9 at 8:12 PM
|Robert W. Baird Reaffirms Buy Rating for Summit Hotel Properties Inc (INN)|
www.americanbankingnews.com - September 9 at 5:02 PM
|Summit Hotel Properties, Inc. (INN) Given Hold Rating at KeyCorp|
www.americanbankingnews.com - August 27 at 11:54 AM
|Summit Hotel Properties, Inc. (INN) Expected to Post Quarterly Sales of $137.09 Million|
www.americanbankingnews.com - August 24 at 9:28 AM
|Host Hotels & Resorts (HST) vs. Summit Hotel Properties (INN) Financial Comparison|
www.americanbankingnews.com - August 23 at 8:26 PM
|Summit Hotel Properties, Inc. (INN) Receives Average Rating of "Buy" from Analysts|
www.americanbankingnews.com - August 22 at 4:30 AM
Summit Hotel Properties (NYSE INN) Chart for Thursday, November, 23, 2017