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Summit Hotel Properties (INN)

Company Profile
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 February 23, 2021, the Company's portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guestrooms located in 23 states.
Summit Hotel Properties logo

Company profile

Ticker
INN, INN+F
Exchange
NYSE
Website
www.shpreit.com
CEO
Daniel P. Hansen
Employees
Incorporated
Maryland
Location
Texas
Fiscal year end
Dec 31
Sector
Finance and Insurance > Other Financial Vehicles
Industry (SIC)
Real Estate Investment Trusts
Annaly Capital Management • AGNC Investment • Simon Property • Prologis • ARMOUR Residential REIT • VEREIT • Vornado Realty • Vornado Realty Trust • Healthpeak Properties • Ventas ...
SEC CIK
0001497645
Corporate docs
Articles of Incorporation & Bylaws
Underwriting Agreements
Indentures
Material Contracts & Credit Agreements
Subsidiaries Lists
Subsidiaries
Summit Hotel GP, LLC • Summit Hotel OP, LP • Summit Hotel TRS, Inc • Summit Hotel TRS 147-A, Inc. • Summit Hotel TRS 148, Inc. • Summit Hotel TRS 149, Inc. • Summit Hotel TRS 150, Inc. • Summit Hotel TRS 151, Inc. • Summit Hotel TRS 152, Inc. • Summit Hotel TRS 154, Inc. ...
IRS number
272962512

INN stock data

Analyst ratings and price targets

Last 3 months
Baird
Downgraded
Neutral
$8.00
12 Jan 23
Latest filings (excl ownership)
View all
8-K
Summit Hotel Properties Reports Third Quarter 2022 Results
2 Nov 22
10-Q
2022 Q3
Quarterly report
2 Nov 22
10-Q
2022 Q2
Quarterly report
2 Aug 22
8-K
Summit Hotel Properties Reports Second Quarter 2022 Results
2 Aug 22
8-K
Entry into a Material Definitive Agreement
27 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
16 May 22
8-K
Termination of a Material Definitive Agreement
10 May 22
424B5
Prospectus supplement for primary offering
9 May 22
424B7
Prospectus with selling stockholder info
9 May 22
S-3ASR
Automatic shelf registration
9 May 22
Transcripts
View all
INN
Earnings call transcript
2022 Q2
4 Aug 22
INN
Earnings call transcript
2022 Q1
4 May 22
INN
Earnings call transcript
2021 Q4
24 Feb 22
INN
Earnings call transcript
2021 Q3
6 Nov 21
INN
Earnings call transcript
2021 Q2
4 Aug 21
INN
Earnings call transcript
2021 Q1
8 May 21
INN
Earnings call transcript
2020 Q4
24 Feb 21
INN
Earnings call transcript
2020 Q3
4 Nov 20
INN
Earnings call transcript
2020 Q3
4 Nov 20
INN
Earnings call transcript
2020 Q2
8 Aug 20
Latest ownership filings
View all
SC 13G/A
BlackRock Inc.
23 Jan 23
SC 13G
JPMORGAN CHASE & CO
13 Jan 23
4
Mehulkumar Bhikhubhai Patel
28 Nov 22
SC 13D
NewcrestImage Holdings, LLC
25 Jul 22
4
William Higgins Conkling
19 May 22
4
Thomas W. Storey
13 May 22
4
Mehulkumar Bhikhubhai Patel
13 May 22
4
Kenneth J Kay
13 May 22
4
JEFFREY W JONES
13 May 22
4
Hope S Taitz
13 May 22

Financial summary

Financial statements Chart INN financial data
Quarter (USD) Sep 22 Jun 22 Mar 22 Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 91.25 mm 91.25 mm 91.25 mm 91.25 mm 91.25 mm 91.25 mm
Cash burn (monthly) 18.27 mm (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 71.23 mm n/a n/a n/a n/a n/a
Cash remaining 20.02 mm n/a n/a n/a n/a n/a
Runway (months of cash) 1.1 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2022

INN institutional ownership history Ownership history
13F holders Current Prev Q Change
Total holders 207 0 NEW
Opened positions 207 0 NEW
Closed positions 0 215 EXIT
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 922.97 mm 0.00 NEW
Total shares 111.33 mm 0.00 NEW
Total puts 0.00 0.00
Total calls 0.00 0.00
Total put/call ratio – – –
Largest owners Shares Value Change
BLK Blackrock 19.41 mm $130.45 mm NEW
Vanguard 15.68 mm $105.35 mm NEW
NewcrestImage 14.91 mm $109.86 mm NEW
Jennison Associates 6.70 mm $45.00 mm NEW
MCQEF Macquarie 4.98 mm $33.50 mm NEW
GW&K Investment Management 3.49 mm $23.48 mm NEW
American Century Companies 3.34 mm $22.44 mm NEW
Nuveen Asset Management 3.27 mm $21.96 mm NEW
JPM JPMorgan Chase & Co. 2.41 mm $16.21 mm NEW
Victory Capital Management 2.17 mm $14.60 mm NEW
Largest transactions Shares Bought/sold Change
BLK Blackrock 19.41 mm +19.41 mm NEW
Vanguard 15.68 mm +15.68 mm NEW
NewcrestImage 14.91 mm +14.91 mm NEW
Jennison Associates 6.70 mm +6.70 mm NEW
MCQEF Macquarie 4.98 mm +4.98 mm NEW
GW&K Investment Management 3.49 mm +3.49 mm NEW
American Century Companies 3.34 mm +3.34 mm NEW
Nuveen Asset Management 3.27 mm +3.27 mm NEW
JPM JPMorgan Chase & Co. 2.41 mm +2.41 mm NEW
Victory Capital Management 2.17 mm +2.17 mm NEW
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

INN insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
23 Nov 22 Mehulkumar Bhikhubhai Patel Common Stock Sell Dispose S No No 8.41 3,000 25.23 k 11,899
19 May 22 William Higgins Conkling Common Stock Payment of exercise Dispose F No No 0 7,528 0.00 284,157
12 May 22 Amina Belouizdad Common Stock Grant Acquire A No No 0 11,665 0.00 21,756
12 May 22 Hanson Bjorn R.L. Common Stock Grant Acquire A No No 0 11,665 0.00 96,476
12 May 22 Hope S Taitz Common Stock Grant Acquire A No No 0 11,665 0.00 59,965
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro
Baird Downgrades Summit Hotel Properties to Neutral, Lowers Price Target to $8
12 Jan 23
Baird analyst Michael Bellisario downgrades Summit Hotel Properties (NYSE:INN) from Outperform to Neutral and lowers the price target from $10 to $8.
Summit Hotel Properties Q3 EPS $0.25 Beats $(0.01) Estimate, Sales $178.25M Miss $179.27M Estimate
2 Nov 22
Summit Hotel Properties (NYSE:INN) reported quarterly earnings of $0.25 per share which beat the analyst consensus estimate of $(0.01) by 2600 percent. This is a 31.58 percent increase over earnings of $0.19 per share
Earnings Scheduled For November 2, 2022
2 Nov 22
Companies Reporting Before The Bell • Nomura Holdings (NYSE:NMR) is likely to report earnings for its second quarter.
Summit Hotel Properties Earnings Preview
1 Nov 22

Press releases

From Benzinga Pro
SUMMIT HOTEL PROPERTIES ANNOUNCES FOURTH QUARTER AND FULL YEAR 2022 EARNINGS RELEASE DATE
10 Jan 23
AUSTIN, Texas, Jan. 10, 2023 /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 2022 on Monday,
Glamping Goes Institutional: Summit Hotel Properties and Onera Escapes Announce Partnership with First Ever Public REIT Dedicated Glamping Investment
17 Nov 22
Transaction is the first public REIT partnership in the fast growing alternative accommodation and glamping segments Summit Hotel Properties (NYSE:INN) has announced a partnership with Onera Escapes starting with the
SUMMIT HOTEL PROPERTIES PUBLISHES 2022 CORPORATE RESPONSIBILITY REPORT
7 Nov 22
AUSTIN, Texas, Nov. 7, 2022 /PRNewswire/ -- Summit Hotel Properties, Inc. (NYSE:INN) (the "Company") today announced the publication of its annual Corporate Responsibility Report for 2022, which presents the
SUMMIT HOTEL PROPERTIES REPORTS THIRD QUARTER 2022 RESULTS
2 Nov 22
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