Summit Hotel Properties (NYSE:INN) Releases Earnings Results

by · The Markets Daily

Summit Hotel Properties (NYSE:INN – Get Free Report) announced its quarterly earnings data on Tuesday. The real estate investment trust reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03, FiscalAI reports. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%. The company had revenue of $185.71 million during the quarter, compared to the consensus estimate of $180.92 million.

Summit Hotel Properties Price Performance

NYSE INN traded down $0.07 on Tuesday, reaching $7.03. The company’s stock had a trading volume of 1,404,640 shares, compared to its average volume of 1,251,868. The firm has a market cap of $757.67 million, a PE ratio of -30.54, a price-to-earnings-growth ratio of 8.01 and a beta of 1.27. The business has a 50-day moving average price of $6.15 and a 200 day moving average price of $5.59. Summit Hotel Properties has a 52 week low of $3.97 and a 52 week high of $7.36. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.

Summit Hotel Properties Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, November 16th. Summit Hotel Properties’s payout ratio is -139.13%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Zacks Research cut Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Weiss Ratings cut Summit Hotel Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Summit Hotel Properties has an average rating of “Hold” and an average price target of $5.40.

Check Out Our Latest Research Report on INN

Summit Hotel Properties Company Profile

(Get Free Report)

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.

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