$INN
Summit Hotel Properties, Inc.

2019 Q2 Form 10-Q Financial Statement

#000149764519000014 Filed on July 31, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $142.9M $152.2M
YoY Change -6.1% 17.95%
Cost Of Revenue $77.00M $83.20M
YoY Change -7.45% 4.66%
Gross Profit $65.90M $69.00M
YoY Change -4.49% 39.23%
Gross Profit Margin 46.11% 45.33%
Selling, General & Admin $16.60M $16.70M
YoY Change -0.6% 215.09%
% of Gross Profit 25.19% 24.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.80M $25.00M
YoY Change -4.8% 26.26%
% of Gross Profit 36.12% 36.23%
Operating Expenses $40.40M $41.60M
YoY Change -2.88% 66.4%
Operating Profit $59.39M $44.76M
YoY Change 32.68% 82.59%
Interest Expense $9.766M $10.40M
YoY Change -6.11% 50.17%
% of Operating Profit 16.44% 23.24%
Other Income/Expense, Net -$9.620M -$6.932M
YoY Change 38.78% -169.38%
Pretax Income $49.77M $37.83M
YoY Change 31.57% 9.63%
Income Tax $700.0K $200.0K
% Of Pretax Income 1.41% 0.53%
Net Earnings $48.96M $37.58M
YoY Change 30.29% 10.62%
Net Earnings / Revenue 34.25% 24.68%
Basic Earnings Per Share $0.43 $0.33
Diluted Earnings Per Share $0.43 $0.32
COMMON SHARES
Basic Shares Outstanding 103.9M shares 103.6M shares
Diluted Shares Outstanding 103.9M shares 103.9M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.80M $48.90M
YoY Change -0.2% 64.09%
Cash & Equivalents $48.80M $48.89M
Short-Term Investments
Other Short-Term Assets $7.600M $7.400M
YoY Change 2.7% -14.94%
Inventory
Prepaid Expenses
Receivables $21.30M $20.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $77.70M $77.20M
YoY Change 0.65% 36.88%
LONG-TERM ASSETS
Property, Plant & Equipment $1.971B $2.015B
YoY Change -2.16% 8.46%
Goodwill
YoY Change
Intangibles $21.35M
YoY Change -1.7%
Long-Term Investments $31.90M $28.90M
YoY Change 10.38% 26.75%
Other Assets $31.70M $75.10M
YoY Change -57.79% 47.25%
Total Long-Term Assets $2.046B $2.139B
YoY Change -4.37% 10.25%
TOTAL ASSETS
Total Short-Term Assets $77.70M $77.20M
Total Long-Term Assets $2.046B $2.139B
Total Assets $2.123B $2.216B
YoY Change -4.2% 11.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.300M $6.200M
YoY Change -14.52% -18.42%
Accrued Expenses $91.90M $61.50M
YoY Change 49.43% 29.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.500M
YoY Change
Total Short-Term Liabilities $100.7M $67.70M
YoY Change 48.74% 22.87%
LONG-TERM LIABILITIES
Long-Term Debt $825.5M $950.5M
YoY Change -13.15% 29.28%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $825.5M $950.5M
YoY Change -13.15% 29.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $100.7M $67.70M
Total Long-Term Liabilities $825.5M $950.5M
Total Liabilities $926.2M $1.018B
YoY Change -9.04% 28.73%
SHAREHOLDERS EQUITY
Retained Earnings $22.18M $6.310M
YoY Change 251.49% -74.05%
Common Stock $1.051M $1.047M
YoY Change 0.38% 0.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.195B $1.195B
YoY Change
Total Liabilities & Shareholders Equity $2.123B $2.216B
YoY Change -4.2% 11.01%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $48.96M $37.58M
YoY Change 30.29% 10.62%
Depreciation, Depletion And Amortization $23.80M $25.00M
YoY Change -4.8% 26.26%
Cash From Operating Activities $45.10M $46.70M
YoY Change -3.43% 18.23%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $116.7M $7.800M
YoY Change 1396.15% -88.44%
Cash From Investing Activities $116.7M $7.800M
YoY Change 1396.15% -103.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -156.9M -48.00M
YoY Change 226.88% -129.61%
NET CHANGE
Cash From Operating Activities 45.10M 46.70M
Cash From Investing Activities 116.7M 7.800M
Cash From Financing Activities -156.9M -48.00M
Net Change In Cash 4.900M 6.500M
YoY Change -24.62% -117.33%
FREE CASH FLOW
Cash From Operating Activities $45.10M $46.70M
Capital Expenditures $0.00 $0.00
Free Cash Flow $45.10M $46.70M
YoY Change -3.43% -86.51%

Facts In Submission

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us-gaap Preferred Stock Dividends Income Statement Impact
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us-gaap Preferred Stock Dividends Income Statement Impact
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CY2018Q2 us-gaap Preferred Stock Redemption Premium
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us-gaap Preferred Stock Redemption Premium
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us-gaap Preferred Stock Redemption Premium
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CY2018Q2 inn Comprehensive Income Loss Available To Common Stockholders
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CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2019Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2019Q2 us-gaap Profit Loss
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CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q2 us-gaap Profit Loss
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Dividends Cash
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us-gaap Stockholders Equity Other
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Profit Loss
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CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Stock Redeemed Or Called During Period Value
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us-gaap Stockholders Equity Other
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Profit Loss
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CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1198056000 USD
us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Amortization Of Financing Costs
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us-gaap Share Based Compensation
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inn Noncash Interest Income
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inn Debt Transaction Costs
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us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Payments To Acquire Notes Receivable
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inn Increase Decrease Escrow Depositsfor Acquisition
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Repayments Of Debt
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us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
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us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
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inn Payments Of Dividends And Distributions
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inn Payments Of Dividends And Distributions
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Interest Paid Capitalized
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us-gaap Interest Paid Capitalized
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us-gaap Income Taxes Paid Net
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us-gaap Nature Of Operations
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DESCRIPTION OF BUSINESS<div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Summit Hotel Properties, Inc. (the “Company”) is a self-managed hotel investment company that was organized on June 30, 2010 as a Maryland corporation. The Company holds both general and limited partnership interests in Summit Hotel OP, LP (the “Operating Partnership”), a Delaware limited partnership also organized on June 30, 2010. Unless the context otherwise requires, “we,” “us,” and “our” refer to the Company and its consolidated subsidiaries.</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We focus on owning primarily premium-branded, select-service hotels. At </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;">, our portfolio consisted of </span><span style="font-family:inherit;font-size:10pt;"><span>69</span></span><span style="font-family:inherit;font-size:10pt;"> hotels with a total of </span><span style="font-family:inherit;font-size:10pt;"><span>10,715</span></span><span style="font-family:inherit;font-size:10pt;"> guestrooms located in </span><span style="font-family:inherit;font-size:10pt;"><span>24</span></span><span style="font-family:inherit;font-size:10pt;"> states. We have elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. To qualify as a REIT, we cannot operate or manage our hotels. Accordingly, all of our hotels are leased to subsidiaries (“TRS Lessees”) of our taxable REIT subsidiary (“TRS”). We indirectly own </span><span style="font-family:inherit;font-size:10pt;"><span>100%</span></span><span style="font-family:inherit;font-size:10pt;"> of the outstanding equity interests in all of our TRS Lessees.</span></div>
CY2019Q2 us-gaap Number Of States In Which Entity Operates
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24 State
us-gaap Use Of Estimates
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<div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div><div style="line-height:120%;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
CY2019Q2 us-gaap Real Estate Investment Property At Cost
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CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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347622000 USD
CY2019Q2 us-gaap Real Estate Investment Property Net
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1941674000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
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2065554000 USD
CY2019Q2 us-gaap Number Of Real Estate Properties
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69 hotel
CY2019Q2 us-gaap Number Of Real Estate Properties
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69 hotel
CY2019Q2 us-gaap Business Acquisitions Pro Forma Revenue
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141410000 USD
CY2018Q2 us-gaap Business Acquisitions Pro Forma Revenue
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137525000 USD
us-gaap Business Acquisitions Pro Forma Revenue
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272707000 USD
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262121000 USD
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55191000 USD
CY2018Q2 inn Business Acquisition Pro Forma Incomefrom Hotel Operations
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53715000 USD
inn Business Acquisition Pro Forma Incomefrom Hotel Operations
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103365000 USD
inn Business Acquisition Pro Forma Incomefrom Hotel Operations
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98646000 USD
CY2019Q2 inn Business Acquisitions Pro Forma Profit Loss
BusinessAcquisitionsProFormaProfitLoss
14644000 USD
CY2018Q2 inn Business Acquisitions Pro Forma Profit Loss
BusinessAcquisitionsProFormaProfitLoss
19510000 USD
inn Business Acquisitions Pro Forma Profit Loss
BusinessAcquisitionsProFormaProfitLoss
24166000 USD
inn Business Acquisitions Pro Forma Profit Loss
BusinessAcquisitionsProFormaProfitLoss
27719000 USD
CY2019Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
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10713000 USD
CY2018Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
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15636000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
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16488000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
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15007000 USD
CY2019Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.10
CY2018Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.15
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.16
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.14
CY2019Q2 inn Business Combination Pro Forma Information Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
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49700000 USD
CY2018Q2 inn Business Combination Pro Forma Information Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
45400000 USD
inn Business Combination Pro Forma Information Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
97800000 USD
inn Business Combination Pro Forma Information Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
90500000 USD
inn Business Combination Pro Forma Information Premium On Redemption Of Preferred Stock
BusinessCombinationProFormaInformationPremiumOnRedemptionOfPreferredStock
3300000 USD
CY2019Q2 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
283624000 USD
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0421
CY2018 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0427
CY2019Q2 us-gaap Debt Instrument Carrying Amount
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834450000 USD
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
965011000 USD
CY2019Q2 us-gaap Unamortized Debt Issuance Expense
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5449000 USD
CY2018Q4 us-gaap Unamortized Debt Issuance Expense
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6299000 USD
CY2019Q2 us-gaap Long Term Debt
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CY2018Q4 us-gaap Long Term Debt
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CY2019Q2 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
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CY2019Q2 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.66
CY2018Q4 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
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569103000 USD
CY2018Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.59
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2019Q2 us-gaap Operating Lease Cost
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800000 USD
CY2019Q2 us-gaap Operating Lease Payments
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CY2019Q2 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.34
CY2018Q4 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
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395908000 USD
CY2018Q4 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.41
CY2019Q2 us-gaap Debt Instrument Carrying Amount
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CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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us-gaap Operating Lease Cost
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1800000 USD
us-gaap Operating Lease Payments
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1600000 USD
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P29Y6M
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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1063000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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2031000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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1923000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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1711000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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867000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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28442000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
36037000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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17150000 USD
CY2019Q2 us-gaap Operating Lease Liability
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18887000 USD
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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103883000 shares
CY2019Q2 us-gaap Common Stock Shares Authorized
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500000000 shares
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
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0.01
CY2018Q4 us-gaap Common Stock Shares Outstanding
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CY2017Q4 us-gaap Common Stock Shares Outstanding
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537734 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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583373 shares
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
6076 shares
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
25839 shares
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
0 shares
us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
2299 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
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166478 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
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818 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
74340 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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187850 shares
CY2019Q2 us-gaap Common Stock Shares Outstanding
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CY2018Q2 us-gaap Common Stock Shares Outstanding
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104744101 shares
CY2019Q2 us-gaap Preferred Stock Shares Authorized
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100000000 shares
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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103888000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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103892000 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents
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27100000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
28500000 USD
us-gaap Allocated Share Based Compensation Expense
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3316000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4048000 USD
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
10300000 USD
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
10281000 USD
CY2019Q2 inn Employee Service Share Based Compensation Nonvested Awards Compensation Cost Remainder Of Fiscal Year
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostRemainderOfFiscalYear
2907000 USD
CY2019Q2 inn Employee Service Share Based Compensation Nonvested Awards Compensation Cost Year Two
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostYearTwo
4380000 USD
CY2019Q2 inn Employee Service Share Based Compensation Nonvested Awards Compensation Cost Year Three
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostYearThree
2530000 USD
CY2019Q2 inn Employee Service Share Based Compensation Nonvested Awards Compensation Cost Year Four
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationCostYearFour
448000 USD
CY2019Q2 inn Employee Service Sharebased Compensation Nonvested Awards Compensation Cost Year Five
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationCostYearFive
16000 USD
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
inn Percentageof Taxable Income Distributedto Shareholders
PercentageofTaxableIncomeDistributedtoShareholders
1
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 USD
CY2019Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
49069000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
37677000 USD
us-gaap Profit Loss
ProfitLoss
61969000 USD
us-gaap Profit Loss
ProfitLoss
47368000 USD
CY2019Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3709000 USD
CY2018Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3709000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7418000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
9252000 USD
CY2019Q2 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
0 USD
CY2018Q2 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
0 USD
us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
0 USD
us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
3277000 USD
CY2019Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
195000 USD
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
120000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
218000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
137000 USD
CY2019Q2 inn Net Income Loss Attributable To Noncontrolling Interest Excluding Discontinued Operations
NetIncomeLossAttributableToNoncontrollingInterestExcludingDiscontinuedOperations
112000 USD
CY2018Q2 inn Net Income Loss Attributable To Noncontrolling Interest Excluding Discontinued Operations
NetIncomeLossAttributableToNoncontrollingInterestExcludingDiscontinuedOperations
101000 USD
inn Net Income Loss Attributable To Noncontrolling Interest Excluding Discontinued Operations
NetIncomeLossAttributableToNoncontrollingInterestExcludingDiscontinuedOperations
135000 USD
inn Net Income Loss Attributable To Noncontrolling Interest Excluding Discontinued Operations
NetIncomeLossAttributableToNoncontrollingInterestExcludingDiscontinuedOperations
104000 USD
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
45053000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33747000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
54198000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
34598000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103896000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103643000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103823000 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103572000 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
41000 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
240000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
65000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
320000 shares

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