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Summit Hotel Properties, Inc. (INN)

  • Thu, Feb. 19, 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)
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  • Tue, Jan. 6, 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)
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  • 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%).
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  • 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%).
  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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."
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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.