Equities analysts expect that Summit Hotel Properties Inc (NYSE:INN) will announce earnings per share of $0.28 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Summit Hotel Properties’ earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.27. Summit Hotel Properties posted earnings per share of $0.30 in the same quarter last year, which suggests a negative year-over-year growth rate of 6.7%. The company is scheduled to issue its next quarterly earnings report on Wednesday, February 20th.

On average, analysts expect that Summit Hotel Properties will report full year earnings of $1.33 per share for the current year, with EPS estimates ranging from $1.32 to $1.34. For the next year, analysts anticipate that the business will post earnings of $1.33 per share, with EPS estimates ranging from $1.30 to $1.37. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Summit Hotel Properties.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $142.34 million during the quarter, compared to analysts’ expectations of $141.18 million. Summit Hotel Properties had a return on equity of 7.79% and a net margin of 16.76%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS.

INN has been the topic of several research analyst reports. Deutsche Bank decreased their price target on shares of Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Raymond James reduced their target price on shares of Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Zacks Investment Research raised shares of Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Friday, October 12th. TheStreet downgraded shares of Summit Hotel Properties from a “b-” rating to a “c+” rating in a research note on Monday, November 5th. Finally, Bank of America cut shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Summit Hotel Properties currently has an average rating of “Buy” and a consensus target price of $15.17.

In related news, Chairman Daniel P. Hansen purchased 10,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was acquired at an average cost of $11.35 per share, for a total transaction of $113,500.00. Following the completion of the transaction, the chairman now directly owns 1,001,155 shares in the company, valued at $11,363,109.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.12% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC acquired a new stake in shares of Summit Hotel Properties during the second quarter valued at about $400,000. Usca Ria LLC acquired a new stake in shares of Summit Hotel Properties during the third quarter valued at about $142,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Summit Hotel Properties during the third quarter valued at about $142,000. Accident Compensation Corp acquired a new stake in shares of Summit Hotel Properties during the third quarter valued at about $144,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Summit Hotel Properties during the third quarter valued at about $162,000.

INN stock traded down $0.16 during mid-day trading on Monday, hitting $10.96. The company had a trading volume of 404,705 shares, compared to its average volume of 620,925. The stock has a market cap of $1.16 billion, a P/E ratio of 8.18, a PEG ratio of 5.99 and a beta of 1.36. Summit Hotel Properties has a 12-month low of $10.68 and a 12-month high of $16.15. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.80.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date was Thursday, November 15th. Summit Hotel Properties’s dividend payout ratio is presently 53.73%.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of October 30, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,659 guestrooms located in 26 states.

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