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Sector Update: Financials

Financial shares were generally higher in the pre-market session Monday as tensions in Russia and Ukraine regions eased after Crimeans voted to rejoin Russia this weekend with little backlash.

In financial stocks news, Summit Hotel Properties, Inc. ( INN ), a real estate investment trust, posted mixed Q4 results with adjusted funds from operations beating the consensus view, but revenue missing estimates.

Adjusted FFO was $12.0 million, or $0.14 per diluted unit, down from $0.15 a unit a year earlier, and one cent above analysts' estimates, according to Capital IQ.

And, PICO Holdings ( PICO ) reported financial results for Q4 that fell short of analysts' expectations.

The diversified holding company reported a Q4 net loss of $7.8 million or $0.34 per share, compared with the prior-year period's net loss of $3.5 million or $0.17 per share. Revenue was $76.03 million, up from $64.48 million in the same quarter last year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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