Summit Hotel Properties Inc
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
INN$7.44+3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets —naudited) and
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Investments in lodging property, net | $2,715,009 | $2,729,049 |
| Investment in lodging property under development | 2,364 | 1,451 |
| Assets held for sale, net | 64,019 | 73,740 |
| Cash and cash equivalents | 63,435 | 37,837 |
| Restricted cash | 8,916 | 9,931 |
| Right-of-use assets, net | 34,244 | 34,814 |
| Trade receivables, net | 27,985 | 21,348 |
| Prepaid expenses and other | 17,183 | 8,865 |
| Deferred charges, net | 6,495 | 6,659 |
| Other assets | 21,182 | 15,554 |
| Total assets | $2,960,832 | $2,939,248 |
| LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTSAND EQUITY | ||
| Liabilities: | ||
| Debt, net of debt issuance costs | $1,452,002 | $1,430,668 |
| Lease liabilities, net | 25,413 | 25,842 |
| Accounts payable | 7,303 | 4,827 |
| Accrued expenses and other | 81,719 | 81,215 |
| Total liabilities | 1,566,437 | 1,542,552 |
| Commitments and contingencies (Note 11) | — | — |
| Redeemable non-controlling interests | 50,219 | 50,219 |
| Equity: | ||
| Preferred stock, $0.01 par value per share, 100,000,000 shares authorized: | ||
| 6.25% Series E - 6,400,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 (aggregate liquidation preference of $160,861 at March 31, 2024 and December 31, 2023, respectively) | 64 | 64 |
| 5.875% Series F - 4,000,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 (aggregate liquidation preference of $100,506 at March 31, 2024 and December 31, 2023, respectively) | 40 | 40 |
| Common stock, $0.01 par value per share, 500,000,000 shares authorized, 108,198,141 and 107,593,373 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively | 1,082 | 1,076 |
| Additional paid-in capital | 1,239,905 | 1,238,896 |
| Accumulated other comprehensive income | 14,969 | 10,967 |
| Accumulated deficit and distributions in excess of retained earnings | (348,302) | (339,848) |
| Total stockholders’ equity | 907,758 | 911,195 |
| Non-controlling interests | 436,418 | 435,282 |
| Total equity | 1,344,176 | 1,346,477 |
| Total liabilities, redeemable non-controlling interests and equity | $2,960,832 | $2,939,248 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.