Summit Hotel Properties (NYSE:INN) Issues Earnings Results

Summit Hotel Properties (NYSE:INN) posted its quarterly earnings data on Tuesday. The real estate investment trust reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03, FiscalAI reports. Summit Hotel Properties had a negative net margin of 0.49% and a negative return on equity of 0.30%. The firm had revenue of $185.71 million during the quarter, compared to analyst estimates of $180.92 million.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock traded down $0.23 on Thursday, reaching $6.89. 821,097 shares of the company traded hands, compared to its average volume of 1,251,933. The company has a 50 day moving average of $6.18 and a 200 day moving average of $5.61. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71. Summit Hotel Properties has a 52 week low of $3.97 and a 52 week high of $7.36. The firm has a market capitalization of $743.63 million, a PE ratio of -36.24, a PEG ratio of 7.73 and a beta of 1.27.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, November 16th. Summit Hotel Properties’s dividend payout ratio is currently -139.13%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings downgraded Summit Hotel Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Zacks Research cut Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Summit Hotel Properties has a consensus rating of “Hold” and a consensus target price of $6.00.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a real estate investment trust (REIT) focused on owning and investing in premium-branded, select-service hotels in the United States. Its properties generally operate under nationally recognized hotel brands and serve business and leisure travelers.

The company’s portfolio has included hotels affiliated with major hospitality brands such as Marriott, Hilton, Hyatt and InterContinental Hotels Group. Summit emphasizes select-service properties, which typically offer essential lodging amenities while operating with a more streamlined cost structure than full-service hotels.

Summit Hotel Properties was founded in 2003 and became a publicly traded company in 2011.