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In a challenging market environment, Summit Hotel Properties Inc (NYSE:INN). stock has touched a 52-week low, dipping to $5.65, with a significant 10.23% decline just in the past week. According to InvestingPro data, the company maintains a 5.53% dividend yield and trades at an EV/EBITDA multiple of 10.7x. This latest price level reflects a notable decline for the real estate investment trust specializing in hotel ownership. Over the past year, Summit Hotel Properties has seen its stock price decrease by 10.22%, underscoring the headwinds faced by the hospitality sector amid shifting economic conditions and travel patterns. Investors are closely monitoring the company’s performance as it navigates through these industry-specific challenges. InvestingPro analysis reveals 8 additional key insights about Summit Hotel Properties’ valuation and growth prospects, available exclusively to subscribers through detailed Pro Research Reports.
In other recent news, Summit Hotel Properties reported its fourth-quarter 2024 earnings, exceeding expectations with an earnings per share (EPS) of $0.01, surpassing the anticipated loss of $0.08. The company also reported revenue of $172.93 million, slightly above the forecast of $171.04 million. Despite these positive earnings results, the stock price experienced a decline post-announcement. Summit Hotel Properties demonstrated a nearly 6% increase in adjusted funds from operations (FFO) year-over-year, reaching $119.2 million. The company maintained flat hotel EBITDA margins, showcasing effective cost management. Looking forward, Summit Hotel Properties expects RevPAR growth of 1-3% in 2025 and adjusted EBITDA ranging from $184 million to $198 million. The company remains optimistic about the recovery of business transient travel and continues to focus on urban and suburban markets. Additionally, Summit Hotel Properties has been actively involved in transactions, including the acquisition of the Hampton Inn Boston Logan Airport and Hilton Garden Inn Tysons Corner for $96 million.
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