Summit Hotel Properties Offers 7.4% On Its Preferred Shares [Seeking Alpha]
Summit Hotel Properties, Inc. (INN)
Last summit hotel properties, inc. earnings: 2/25 04:35 pm
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US:NYSE Investor Relations:
investor.shpreit.com
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Source: Seeking Alpha
INN's outlook for 2024 is encouraging, with expected higher AFFO and lower capex. The asset coverage ratio is okay, but there is in excess of $650M in common equity junior to the preferred shares. Looking for a helping hand in the market? Members of European Small-Cap Ideas get exclusive ideas and guidance to navigate any climate. Learn More » Introduction As it has been almost a full year since I last discussed the preferred shares of Summit Hotel Properties ( NYSE: INN ), the recently reported full-year results are an excellent reason to have another look at the REIT and the safety of its preferred shares. As you can see above, the Marriott brand is the largest franchisor of the hotels, with 63% of the hotels classified as 'premium select'. A Decent Q4 Means The Preferred Dividends Are Still Well-Covered As the income statement is pretty irrelevant for REITs, I wanted to dive right into the FFO and AFFO calculations to check the health of my preferred share investment
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INN
News
- 2 new hotel brands coming to site of old SLO County inn. Here's a look [Yahoo! Finance]Yahoo! Finance
- SHAREHOLDER ALERT: Purcell & Lefkowitz LLP Announces Shareholder Investigation of Summit Hotel Properties, Inc. (NYSE: INN)PR Newswire
- Fairfield Inn & Suites Pensacola Beach Project by Innisfree Hotels and RREAF Holdings Wins Prestigious 'Deal of the Year' Award from NAIOP Northwest FloridaPR Web
- Korean steakhouse, hotel among new local businesses [Yahoo! Finance]Yahoo! Finance
- SUMMIT HOTEL PROPERTIES ANNOUNCES FIRST QUARTER 2024 EARNINGS RELEASE DATE [Yahoo! Finance]Yahoo! Finance
INN
Earnings
- 2/28/24 - Beat
INN
Sec Filings
- 4/3/24 - Form DEFA14A
- 4/3/24 - Form DEF
- 3/25/24 - Form 4
- INN's page on the SEC website