Summit Hotel Properties, Inc.
 (INN)

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  • Wed, Jan. 13, 3:30 PM
    • LaSalle Hotel Properties (LHO -7.3%) earlier cut its Q4 guidance, saying the weak RevPAR trends for it and the industry continued into the end of the year. At the moment, 2016 isn't looking so promising either, says the company.
    • The broad markets are selling off sharply today, but the REITs not so much, and there are even a couple of pockets of green. Not in the lodging sector though:
    • Hospitality Properties (HPT -3.1%), Ashford Hospitality (AHT -6.1%), Sunstone Hotel (SHO -6.3%), Pebblebrook Hotel (PEB -4%), Chesapeake Lodging (CHSP -4.9%), Summit Hotel (INN -5.6%), RLJ Lodging (RLJ -6.3%), Chatham Lodging (CLDT -3.2%), FelCor Lodging (FCH -10.2%), Host Hotels (HST -5.5%), Hersha Hospitality (HT -5.1%), DiamondRock (DRH -7.4%), Apple (APLE -1.6%)
    | Wed, Jan. 13, 3:30 PM | 5 Comments
  • Oct. 23, 2015, 11:46 AM
    • Pebblebrook Hotel (after warning last month of a soft Q3), cut its outlook for Q4, noting a softening global economy and weaker job growth in the U.S. It's down 8%.
    • LaSalle Hotel  is in the "penalty box" after waiting until its earnings report to disclose the near-total shutdown of two NYC hotels in response to union issues in San Francisco. That stock is down 8.3%.
    • Hospitality Properties (HPT -3.8%), Sunstone Hotels (SHO -3.2%), Chesapeake Lodging (CHSP -3.4%), Summit Hotels (INN -2.8%), RLJ Lodging (RLJ -1.9%), Chatham Lodging (CLDT -2.3%), FelCor Lodging (FCH -6%), Host Hotels (HST -5.5%), Hersha (HT -4.3%), DiamondRock (DRH -3.2%).
    • Previously: LaSalle Hotel tumbles as room closures hit results (Oct. 23)
    • Previously: Pebblebrook Hotel sinks after cutting Q4 outlook (Oct. 23)
    | Oct. 23, 2015, 11:46 AM | 1 Comment
  • Sep. 15, 2015, 12:21 PM
    • Pebblebrook Hotel Trust last night said RevPAR this quarter could miss guidance thanks to weaker-than-expected demand in August and September. The stock is lower by 7.2%, and taking most of the rest of the sector along with it.
    • Ashford Hospitality (AHT -2.7%), Ashford Hospitality Prime (AHP -1.8%), Sunstone Hotel (SHO -3.3%), LaSalle Hotel (LHO -4%), Chesapeake Lodging (CHSP -3.4%), Summit Hotel (INN -2%), RLJ Lodging (RLJ -3.6%), Chatham Lodging (CLDT -2.2%), FelCor Lodging (FCH -4.1%), Host Hotels (HST -3.7%), DiamondRock (DRH -3.3%), Hersha Hospitality (HT -3.5%).
    • Notable outperformers: Hospitality Properties (HPT -0.8%), Strategic Hotels (BEE flat).
    | Sep. 15, 2015, 12:21 PM | 3 Comments
  • Feb. 19, 2015, 11:25 AM
    • Maybe priced for perfection after big runs over the past couple of years, hotel REITs are pulling back after an earnings miss from Lasalle Hotel Properties (LHO -4.3%) and middling guidance from Host Hotels and Resorts (HST -5.4%).
    • Hospitality Properties (HPT -1.5%), Ashford Hospitality (AHT -1.2%), Strategic Hotels (BEE -0.9%), Pebblebrook Hotel Trust (PEB -1.7%), Summit Hotel (INN -2.2%), RLJ Lodging (RLJ -2.3%), Chatham Lodging (CLDT -1.1%).
    • Bucking the trend is Hersha Hospitality Trust (HT +1.1%) after beating Q4 consensus.
    • Previously: Credit Suisse takes profits on Pebblebrook Hotel (Feb. 18)
    | Feb. 19, 2015, 11:25 AM
  • Jan. 6, 2015, 2:30 PM
    • Equity REIT names are higher nearly across the board as the 10-year Treasury yield tumbles below 2%, but the hotel REITs aren't joining in the fun, suggesting maybe plunging oil prices (now at $47.76 per barrel) are foreshadowing a weak economy?
    • Ashford Hospitality (AHT -1.9%), Strategic Hotels (BEE -1.3%), LaSalle Hotel (LHO -0.9%), Chesapeake Lodging (CHSP -1.7%), Summit Hotel (INN -1.2%).
    • Previously: Equity REITs add to gains as long-term yields dive (Jan. 6)
    | Jan. 6, 2015, 2:30 PM
  • Oct. 20, 2014, 10:01 AM
    • Stifel steps into the Ebola-related downdraft in the lodging sector, upgrading the largest (by market cap) such REIT, Hospitality Property Trust (HPT +2.1%) to Buy with $30 price target.
    • Other names: Ashford (AHT +1.2%), Strategic Hotels (BEE +0.8%), Sunstone Hotel (SHO +1.1%), LaSalle Hotel (LHO +0.6%), Chesapeake Lodging (CHSP +0.6%), Summit Hotel (INN +1.2%), Pebblebrook Hotel (PEB +0.7%).
    | Oct. 20, 2014, 10:01 AM
  • Oct. 13, 2014, 4:19 PM
    • Both equity and mortgage REITs saw plenty of buying as nearly all of the rest of the market was lit up bright red, and Treasury ETFs signaled a sharp drop in yields when government bonds reopen for trade tomorrow (closed this session for Columbus Day).
    • A sampling of equity names: Senior Housing Properties (SNH +1.2%), Medical Properties Trust (MPW +1.4%), Gramercy Property Trust (GPT +1.7%), Equity Residential (EQR +0.7%), Inland Real Estate (IRC +0.9%), Sovran Self Storage (SSS +1.1%), Highwoods Properties Trust (HIW +1%).
    • One equity REIT sector in the red along with the rest of the market is lodging amid worsening Ebola fears: Ashford Hospitality Trust (AHT -2.9%), Sunshine Hotel Investors (SHO -1.4%), LaSalle Hotel Properties (LHO -1.5%), Summit Hotel Properties (INN -1.5%).
    • Mortgage REITs: American Capital Agency (AGNC +1.4%), CYS Investments (CYS +2.2%), Invesco (IVR +1.1%), American Capital Mortgage (MTGE +1.5%), Western Asset (WMC +1.1%).
    • ETFs: IYR, VNQ, REM, MORL, MORT, DRN, URE, REZ, SRS, RWR, SCHH, ICF, ROOF, DRV, KBWY, RTL, REK, FRI, FTY, PSR, IFNA, FNIO, WREI
    | Oct. 13, 2014, 4:19 PM | 5 Comments
  • Mar. 5, 2012, 4:11 PM

    Summit Hotel (INN -5.1%) finishes lower after RBC downgraded the stock to Sector Perform earlier today due to the overhangs from its renovations and the re-branding of its hotels.

    | Mar. 5, 2012, 4:11 PM
  • Mar. 1, 2012, 3:07 PM

    Summit Hotel Properties (INN -2.2%) trades lower after Janney Capital cut the shares to Neutral from Buy on valuation earlier today, citing a lack of visibility.

    | Mar. 1, 2012, 3:07 PM
  • Oct. 25, 2011, 12:26 PM

    Shares of Summit Hotel Properties (INN) fall off 3.6% after pricing a 2M share public offering of its 9.25% Series A Preferred stock at a $25 per share. The company expects to haul in $48M in net proceeds from the offering.

    | Oct. 25, 2011, 12:26 PM
  • Aug. 24, 2011, 11:57 AM

    Summit Hotel Properties (INN +9.1%) pops on a valuation upgrade from KeyBanc, saying the majority of its customers are business transient travelers that will continue to travel and utilize the company's hotels, even in a slowing economy.

    | Aug. 24, 2011, 11:57 AM
  • Aug. 24, 2011, 11:38 AM

    Summit Hotel Properties (INN +11.8%), an operator of premium hotel franchises, is recovering some of its August losses after KeyBanc's Dennis Frost upgrades shares to Buy. Frost thinks Summit is relatively immune from weak middle-class consumer spending, given that most of its customers are "short-stay business travelers."

    | Aug. 24, 2011, 11:38 AM
Company Description
Summit Hotel Properties Inc is a self-managed hotel investment company. The Company is engaged in acquiring and owning premium-branded select-service hotels in the upscale and upper midscale segments of the U.S. lodging industry.