Bright Force Investment sells $135,300 in Summit Hotel Properties shares

Bright Force Investment, LLC, a major stakeholder in Summit Hotel Properties, Inc. (NYSE:INN), has sold a portion of its holdings in the company. According to a recent SEC filing, Bright Force Investment disposed of 21,207 shares of Summit Hotel Properties at a price of $6.38 per share, amounting to a total transaction value of approximately $135,300. The stock has since declined to $5.86, representing an 8% drop over the past week. According to InvestingPro, the company trades at attractive valuation multiples with a P/E ratio of 24.6. Following the sale, Bright Force Investment retains ownership of 1,578,793 shares. The transaction was reported on March 10, 2025, and is part of Bright Force’s ongoing management of its investment portfolio. Summit Hotel Properties maintains a healthy 5.3% dividend yield and has raised its dividend for three consecutive years. InvestingPro analysis reveals the company’s overall Financial Health score is Fair, with detailed insights available in the comprehensive Pro Research Report.

In other recent news, Summit Hotel Properties reported its fourth-quarter 2024 earnings, showcasing a stronger-than-expected financial performance. The company achieved an earnings per share (EPS) of $0.01, surpassing the anticipated loss of $0.08. Revenue also exceeded forecasts, reaching $172.93 million compared to the expected $171.04 million. The company’s adjusted funds from operations (FFO) increased to $119.2 million, marking nearly a 6% rise from the previous year. Despite these positive results, the stock experienced a decline in value, which may reflect broader market trends or investor caution. Summit Hotel Properties also announced the acquisition of the Hampton Inn Boston Logan Airport and Hilton Garden Inn Tysons Corner for $96 million, indicating strategic growth in key markets. Additionally, the company anticipates RevPAR growth of 1-3% and an adjusted EBITDA range of $184 million to $198 million for 2025. CEO John Stanner expressed confidence in the company’s trajectory, highlighting the potential for continued performance in urban and suburban markets.

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