Summit Hotel Properties: Q3 Earnings Snapshot

Associated Press Finance11-05

AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Summit Hotel Properties Inc. (INN) on Monday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations. The real...

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(INN) on Monday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.\nThe real...</p>\n\n<a href=\"https://finance.yahoo.com/news/summit-hotel-properties-q3-earnings-220236049.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"INN","symbol_name":"Summit Hotel Properties","start_time":0,"source_url":"https://finance.yahoo.com/news/summit-hotel-properties-q3-earnings-220236049.html","article_id":"2481199563","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481199563","pubTimestamp":1730757756,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"AUSTIN, Texas  — AUSTIN, Texas  — Summit Hotel Properties Inc.  on Monday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.The real estate investment trust, based in Austin, Texas, said it had funds from operations of $27.6 million, or 22 cents per share, in the period.The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 20 cents per share.Funds from operations is a closely watched measure in the REIT industry. 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The results beat Wall Street expectations.\nThe real estate investment trust, based in Austin, Texas, said it had funds from operations of $27.6 million, or 22 cents per share, in the period.\nThe average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 20 cents per share.\nFunds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.\nThe company said it had a loss of $4.3 million, or 4 cents per share.\nThe real estate investment trust specializing in higher end hotels, based in Austin, Texas, posted revenue of $176.8 million in the period.\nSummit Hotel Properties expects full-year funds from operations in the range of 92 cents to 98 cents per share.\n_____\nThis story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. 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