Summit Hotel Properties, Inc. | REIT Profile

Symbol: INN
CIK: 1497645
Exchange: NYSE
Preferred Stock: INN-E, INN-F
Founded: 2004 (18 years)
HQ: Austin, TX, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Hotel, Resorts

See INN on Google Finance
See INN on Yahoo Finance
See INN on SEC.gov

Website Logo  Twitter Logo  Linkedin Logo  RSS Logo 

About Summit Hotel Properties, Inc.

Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of September 30, 2017, the Company's portfolio consisted of 79 hotels with a total of 11,590 guestrooms located in 24 states.


Summit Hotel Properties, Inc. Company Logo

Stock Chart

See in Advanced Graph View

REITMovers


REITMovers tracks the stock price and other indicators for all US REITs tracked by REITNotes during normal trading hours. This data is updated every 3 minutes during normal trading hours. Note: All prices have a 15 minute delay.


Latest Price High Low Open Close Previous Close Volume Change $ Change % Market Cap PE Ratio 52W High 52W Low Ytd Change
$6.77 $7.02 $6.72 $6.82 $6.74 $6.74 648,928 $0.03 0.45% $723,706,304 -24.02 $10.89 $6.67 -30.19%

Last update: 2022-09-27 12:57:25 PST

REITRating™ Trend


REITRating™ is REITNotes' Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. See score breakdown. The graph below plots the overall REITRating™ score for the last trading days. See complete trend.

Overall REITRating Score: 6.2

Hightlights of Trading Day September 27, 2022


Open Price: $6.82
Closing Price: $6.77
Price Change: 0.03 (0.445%)
Lowest Price: $6.715
Highest Price: $7.015
52-Week Low: $6.67
52-Week High: $10.89
52-Week Change: -31.68%
5 Day Price Change: -13.81%
1 Month Price Change: -18.50%
3 Month Price Change: -7.76%
6 Month Price Change: -31.48%
YTD Price Change: -30.63%
1 Year Price Change: -31.75%
2 Year Price Change: 37.05%
5 Year Price Change: -51.05%

Dividend of Trading Day September 27, 2022


Dividend Yield: 2.363%*
Annualized Dividend: $0.16*
Dividend Yield (TTM): 0.593%
Annualized Dividend (TTM): $0.04
Ex-Dividend Date: 2022-08-16
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


See more news headlines for Summit Hotel Properties, Inc.

Funds From Operations (FFO)



FFO Amount and Payout Ratio

Below are the FFO amounts, dividends, and payout ratios for the last two quarters for INN.

Year Quarter Type Amount Dividend Paid Payout Ratio
2022 Q2 FFO $--- $--- ---%
2022 Q2 AFFO $--- $--- ---%
2022 Q1 FFO $--- $--- ---%
2022 Q1 AFFO $--- $--- ---%

REITNotes uses the REIT's Funds From Operation (FFO) per diluted share informed in the REIT’s Quarterly Earning Reports and its announced dividend per diluted share. For some REITs, we also display the Adjusted Funds From Operations (AFFO), Core FFO, Normalized FFO (NFFO), Modified FFO (MFFO), Operating FFO as provided by the REIT. REITNotes™ calculates the payout ratio by dividing the dividend value paid during the current quarter by the FFO declared in the previous Quarter. E.g., we divide the dividend value paid in Q3 by the FFO reported in Q2. This is because although paid in Q3, the dividend value is usually declared during the previous quarter. FFO is a non-GAAP measure recognized by the SEC and provided by the REITs as a supplemental measure of their operating performance. FFO is not meant to be an indicator of the REIT’s capacity to pay current or future dividends nor to be a substitute to the REIT's cash flow from operations. It is recommended to check the REIT's website, Earning Reports and dividend announcements for the latest and updated information.


Funds From Operations (FFO)

Key Stats of Trading Day September 27, 2022


Total Cash: $109,999,000
Current Debt: $94,135,000
Revenue: $542,665,000
Gross Profit: $253,593,000
Total Revenue: $542,665,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $158,193,000
Revenue Per Share: $5
Revenue Per Employee: N/A
Employee: 46
Debt to Equity Ratio (D/E): 3.24
Profit Margin: -0.06%
Enterprise Value (EV): $2,263,378,137
Enterprise Value to Revenue (EV/R): 4.17
Price to Sales (P/S): 1.57
Price to Book (P/B): 0.88
Price/Earnings-to-Growth (PEG) Ratio: -0.35
P/E Ratio: -24.02
P/E High: 18.00
P/E Low: 11.40
Forward P/E Ratio: -265.00
Market Capitalization: $723,706,304
Beta: 1.19
Latest Volume: 797,495
Avg. Total Volume: 838,277
Avg. 10-Day Volume: 1,115,318
Avg. 30-Day Volume: 838,277
TTM EPS: -0.28
Shares Outstanding: 106,899,011
Float: N/A
50-Day Moving Avg.: $8.09
200-Day Moving Avg.: $8.48

Latest REIT Community Comments on #INN


See more community comments related to INN

Properties Owned by INN


INN Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate



REITBOT
REITBOT™ Alert
The 2022-Q2 occupancy rate for this REIT seems low, make sure to compare it to other REITs in the same industry.

Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $11.73 per share you would have been able to buy 85 shares of INN on 2021-09-27 costing $997.05 @ $11.73 per share you would have been able to buy 42 shares of INN on 2021-09-27 costing $492.66 @ $11.73 per share you would have been able to buy 21 shares of INN on 2021-09-27 costing $246.33 @ $11.73 per share you would have been able to buy 8 shares of INN on 2021-09-27 costing $93.84 @ $11.73 per share you would have been able to buy 4 shares of INN on 2021-09-27 costing $46.92
Current worth On 2022-09-27 these 85 shares would be worth $575.45 @ $6.77 On 2022-09-27 these 42 shares would be worth $284.34 @ $6.77 On 2022-09-27 these 21 shares would be worth $142.17 @ $6.77 On 2022-09-27 these 8 shares would be worth $54.16 @ $6.77 On 2022-09-27 these 4 shares would be worth $27.08 @ $6.77
Dividends earned $3.40 in dividends would have been earned since 2021-09-27 with 85 shares. $2 in dividends would have been earned since 2021-09-27 with 42 shares. $0.84 in dividends would have been earned since 2021-09-27 with 21 shares. $0.32 in dividends would have been earned since 2021-09-27 with 8 shares. $0.16 in dividends would have been earned since 2021-09-27 with 42 shares.
Net (gain / loss)* -418.20 USD -206.64 USD -103.32 USD -39.36 USD -19.68 USD
ROI** -41.94% -41.94% -41.94% -41.94% -41.94%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by INN. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
INN 2022-08-16 0.040 -77.78% 2022-08-02 2022-08-17 2022-08-31
INN 2020-02-13 0.180 --- 2020-01-31 2020-02-14 2020-02-28
INN 2019-11-14 0.180 --- 2019-11-01 2019-11-15 2019-11-29
INN 2019-08-15 0.180 --- 2019-07-29 2019-08-16 2019-08-30
INN 2019-05-16 0.180 --- 2019-04-29 2019-05-17 2019-05-31
INN 2019-02-13 0.180 --- 2019-02-01 2019-02-14 2019-02-28
INN 2018-11-15 0.180 --- 2018-10-26 2018-11-16 2018-11-30
INN 2018-08-15 0.180 --- 2018-07-30 2018-08-16 2018-08-31
INN 2018-05-15 0.180 --- 2018-04-30 2018-05-16 2018-05-31
INN 2018-02-15 0.180 5.88% 2018-02-05 2018-02-16 2018-02-28
INN 2017-11-15 0.170 --- 2017-10-30 2017-11-16 2017-11-30
INN 2017-08-14 0.170 --- 2017-07-28 2017-08-16 2017-08-31
INN 2017-05-12 0.170 4.62% 2017-04-28 2017-05-16 2017-05-31
INN 2017-02-10 0.163 --- 2017-01-24 2017-02-14 2017-02-28
INN 2016-11-14 0.163 22.64% 2016-10-31 2016-11-16 2016-11-30
INN 2016-08-12 0.133 --- 2016-07-29 2016-08-16 2016-08-31
INN 2016-05-12 0.133 12.77% 2016-04-29 2016-05-16 2016-05-31
INN 2016-02-11 0.118 --- 2016-01-29 2016-02-16 2016-02-29
INN 2015-11-12 0.118 --- 2015-10-30 2015-11-16 2015-11-30
INN 2015-08-12 0.118 --- 2015-07-30 2015-08-14 2015-08-31

Earnings Press Releases


Below are the Earnings Press Releases for INN. To see the complete Earnings Report please visit the sec.gov.

Year Quarter Title
2021 Q4 SUMMIT HOTEL PROPERTIES REPORTS FOURTH QUARTER AND FULL YEAR 2021 RESULTS

Financial Statements Overview


The next Earnings Report for INN is 2022-11-02

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Current Cash 109,999,000 82,397,000 64,485,000 59,650,000
Receivables 0 0 14,476,000 0
Inventory 0 0 0 0
Current Assets 161,974,000 132,233,000 129,153,000 118,848,000
Current Assets (Other) 15,914,000 17,000,000 17,733,000 7,308,000
Short Term Investments 15,914,000 17,000,000 17,733,000 7,308,000
Long-term Investments 2,962,703,000 2,974,366,000 2,135,749,000 2,129,472,000
Property, Plant & Equipment Net 2,860,058,000 2,811,920,000 2,093,473,000 2,068,283,000
Goodwill 0 0 0 0
Intangible Assets 39,954,000 37,981,000 0 11,231,000
Other Assets 30,813,000 39,823,000 14,860,000 22,243,000
Net Tangible Assets 924,616,000 913,261,000 947,969,000 942,970,000
Total Assets 3,124,677,000 3,106,599,000 2,264,902,000 2,248,320,000
Accounts Payable 8,332,000 5,341,000 4,462,000 4,330,000
Liabilities (Other) 0 0 0 0
Current Liabilities (Other) 85,803,000 75,699,000 66,219,000 70,289,000
Total Current Liabilities 94,135,000 81,040,000 70,681,000 74,619,000
Current Long-term Debt 0 0 0 0
Long-term Debt 1,523,530,000 1,481,895,000 1,069,797,000 1,056,667,000
Total Liabilities 2,160,003,000 2,155,253,000 1,316,829,000 1,294,015,000
Minority Interest 520,614,000 570,269,000 159,119,000 145,202,000
Common Stock 105,199,000 104,896,000 104,563,000 104,548,000
Retained Earnings -267,159,000 -275,018,000 -262,639,000 -247,364,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 964,674,000 951,346,000 948,073,000 954,305,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Total Revenue 183,248,000 141,869,000 106,862,000 110,686,000
Cost of Revenue 95,257,000 78,801,000 59,271,000 55,743,000
Gross Profit 87,991,000 63,068,000 47,591,000 54,943,000
Research and Development 0 0 0 0
Selling General and Admin 8,074,000 9,137,000 11,145,000 6,099,000
Operating Expense 159,956,000 141,145,000 108,473,000 101,302,000
Operating Income 23,292,000 724,000 -1,611,000 9,384,000
Income Expense Net (Other) 0 0 0 0
EBIT 23,292,000 724,000 -1,611,000 9,384,000
Interest Income 15,118,000 13,439,000 10,801,000 10,817,000
Pretax Income 29,750,000 -10,973,000 -10,507,000 -3,544,000
Income Tax 6,437,000 -2,000,000 398,000 695,000
Minority Interest 11,401,000 -564,000 107,000 265,000
Net Income 7,944,000 -12,379,000 -15,275,000 -10,964,000
Net Income Basic 7,944,000 -12,379,000 -15,275,000 -10,964,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2022-06-30 2022-03-31 2021-12-31 2021-09-30
Net Income 7,944,000 -12,379,000 -15,275,000 -10,964,000
Depreciation 38,058,000 36,274,000 26,179,000 25,893,000
Changes in Receivables 0 0 14,476,000 0
Changes in Inventories 0 0 0 0
Cash Change 109,999,000 82,397,000 64,485,000 59,650,000
Cash Flow 61,398,000 25,505,000 15,762,000 35,459,000
Capital Expenditures -14,934,000 -10,347,000 -68,733,000 -4,164,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows 50,054,000 -284,818,000 -22,364,000 -39,338,000
Dividends Paid 0 0 0 0
Net Borrowings 1,397,617,000 1,382,498,000 987,579,000 963,340,000
Cash Flow Financing -80,625,000 277,602,000 18,375,000 10,878,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
1 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.8
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.8
Rating AFFO & Efficiency Section Avg. Rating
6 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 8.9
5 AFFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 7.0
5 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.0
4 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 7.3
Rating Leverage Section Avg. Rating
4 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.7
4 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 6.9
10 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.7
7 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
5 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.0
5 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.3
Rating Asset & Revenue Section Avg. Rating
8 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.3
10 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.9
10 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 7.7
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.0
Rating Properties Section Avg. Rating
5 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.6
10 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.7
10 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
6.2 Overall REITRating™ Score (See trend) 6.2

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

Related REITs


REIT REITRating™ Score Exchange Market Capitalization Sector Country
DiamondRock Hospitality Co. (DRH) 6.9 NYSE Small-Cap Hotel Resorts United States
Pebblebrook Hotel Trust, Inc. (PEB) 6.2 NYSE Small-Cap Hotel Resorts United States
RLJ Lodging Trust (RLJ) 6.1 NYSE Small-Cap Hotel Resorts United States
Sotherly Hotels, Inc. (SOHO) 3.7 NASDAQ Micro-Cap Hotel Resorts United States
Hersha Hospitality Trust (HT) 4.8 NYSE Small-Cap Resorts Hotel United States

Last updated: 2022-09-27 - v3.5