Somewhat Favorable News Coverage Somewhat Unlikely to Impact Summit Hotel Properties (INN) Stock Price
Media stories about Summit Hotel Properties (NYSE:INN) have been trending somewhat positive this week, according to Accern Sentiment. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Summit Hotel Properties earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned media headlines about the real estate investment trust an impact score of 44.6420753616326 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
A number of research analysts recently issued reports on INN shares. Cantor Fitzgerald restated a “buy” rating and set a $17.00 price target on shares of Summit Hotel Properties in a report on Monday, November 20th. KeyCorp set a $17.00 price target on Summit Hotel Properties and gave the company a “buy” rating in a report on Sunday, October 29th. Robert W. Baird restated a “buy” rating and set a $17.00 price target on shares of Summit Hotel Properties in a report on Friday, September 8th. Zacks Investment Research upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Janney Montgomery Scott downgraded Summit Hotel Properties from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $17.50.
Summit Hotel Properties (NYSE INN) opened at $14.94 on Tuesday. Summit Hotel Properties has a twelve month low of $14.23 and a twelve month high of $19.39. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1,559.98, a P/E ratio of 11.25 and a beta of 1.18.
Summit Hotel Properties (NYSE:INN) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Summit Hotel Properties had a return on equity of 8.96% and a net margin of 20.21%. The firm had revenue of $136.60 million for the quarter, compared to the consensus estimate of $135.69 million. During the same quarter in the prior year, the business earned $0.37 EPS. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. sell-side analysts expect that Summit Hotel Properties will post 1.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.55%. Summit Hotel Properties’s dividend payout ratio (DPR) is 82.93%.
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Summit Hotel Properties Company Profile
Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 79 hotels with a total of 11,590 guestrooms located in 24 states.
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