Summit Hotel Shares Jump 4.9% After Peer Netstreit Q4 Beat
Summit Hotel shares climbed 4.9% after Netstreit reported Q4 FFO of $0.33 per share and revenue of $52.5 million, up 19% year-over-year and beating consensus by 5.46%. Summit Hotel is slated to release Q4 results on February 25, with analysts forecasting EPS of $0.17 (down 15% YoY) and revenue of $172.01 million (down 0.5%).
1. Peer Netstreit Q4 Results
Summit Hotel shares climbed 4.9% after Netstreit reported Q4 FFO of $0.33 per share and revenue of $52.5 million, marking a 19% increase from $44.1 million a year earlier and topping consensus by 5.46%. The matching of the $0.33 consensus FFO estimate delivered a modest 0.52% surprise and extended Netstreit’s streak of beating revenue estimates three times in four quarters.
2. Summit Hotel Q4 Outlook
Summit Hotel Properties is scheduled to release its Q4 earnings on February 25, with analysts forecasting EPS of $0.17, down 15% year-over-year, and revenue of $172.01 million, a 0.5% decline. Investors will focus on management commentary for insight into near-term FFO guidance and sector trends following recent peer outperformance.