Benzinga | Nov 3, 2020 04:49PM EST

Summit Hotel Properties: Q3 Earnings Insights

Shares of Summit Hotel Properties (NYSE:INN) moved higher by 0.17% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 132.26% year over year to ($0.10), which beat the estimate of ($0.37).

Revenue of $52,412,000 declined by 60.79% from the same period last year, which missed the estimate of $55,060,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Summit Hotel Properties hasn't issued any revenue guidance for the time being.

Technicals

Company's 52-week high was at $12.59

Company's 52-week low was at $2.32

Price action over last quarter: Up 4.37%

Company Description

Summit Hotel Properties Inc is a U.S.-based hotel investment company focusing on select-service hotels in the upscale and upper-midscale properties in the U.S. Substantially all of Summit's assets are held and operated by its Operating Partnership, Summit Hotel OP, LP, in which the company holds general and limited partnership interests. The firm has one segment in activities related to investing in real estate. Summit's revenue streams include Room and Other hotel operations revenue. Room comprises the majority of total revenues. The firm's hotels are located in various markets, such as corporate offices, retail centers, airports, state capitols, convention centers, and leisure attractions. Summit's hotels operate under major brands, including Marriott, Hilton, Hyatt, and Holiday Inn.