Summit Hotel Properties Declares $0.08 Quarterly Dividend, 7.7% Yield
Summit Hotel Properties, a lodging-focused real estate investment trust, declared a quarterly cash dividend of $0.08 per share on common stock. The dividend represents a 7.7% annualized yield based on the stock's recent closing price.
Summit Hotel Properties, Inc. (NYSE: INN), a lodging-focused real estate investment trust, declared a quarterly cash dividend of $0.08 per share on its common stock and per common unit of limited partnership interest in Summit Hotel OP, LP. The dividend represents an annualized yield of 7.7% based on the closing price of $1.04 on February 24, 2026. Read more dividend announcements.
The company's Board of Directors also declared quarterly dividends on its preferred securities: $0.390625 per share on the 6.25% Series E Cumulative Redeemable Preferred Stock, $0.3671875 per share on the 5.875% Series F Cumulative Redeemable Preferred Stock, and $0.328125 per unit on the 5.25% Series Z Cumulative Perpetual Preferred Units.
| Dividend Details | Information |
|---|---|
| Amount | $0.08 per share |
| Frequency | Quarterly |
| Record Date | February 13, 2026 |
| Payment Date | February 27, 2026 |
| Annualized Yield | 7.7% |
Recent Capital Activity
Summit Hotel Properties recently completed the repayment of its $287.5 million Convertible Notes on February 17, 2026. The company drew on its $275.0 million Delayed Draw Term Loan and Corporate Revolver to fully retire the notes.
The company also executed an interest rate management strategy in November 2025, entering into a $125 million interest rate swap that fixes one-month term SOFR at 3.31% through December 2027. The swap replaced an expiring agreement that had locked in rates at 2.92%.
Portfolio and Balance Sheet
As of December 31, 2025, Summit Hotel Properties owned 94 lodging assets following the sale of three hotels during 2025. The divested properties generated $3.0 million of Consolidated EBITDA and $1.6 million of Adjusted EBITDAre during calendar year 2025.
The company reported outstanding debt of $1.1 billion with a weighted average interest rate of 4.48% on a pro rata basis. After accounting for interest rate derivatives, 77% of the debt carried fixed rates while 23% remained variable. Unrestricted cash and cash equivalents totaled $30.1 million.
2026 Outlook
Summit Hotel Properties provided full-year 2026 guidance based on its 94-property portfolio as of January 1, 2026. The company projects pro forma RevPAR growth between 0% and 3%, with Adjusted EBITDAre ranging from $167.0 million to $181.0 million.
Adjusted funds from operations are expected to fall between $89.0 million and $103.5 million, translating to $0.73 to $0.85 per share of common stock and common units. The company anticipates capital expenditures of $55.0 million to $65.0 million on a pro rata basis.