Summit Hotel Properties (NYSE:INN – Get Free Report) issued its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.20), Zacks reports. The business had revenue of $188.14 million for the quarter, compared to analysts’ expectations of $181.40 million. Summit Hotel Properties had a negative net margin of 1.04% and a negative return on equity of 0.56%. During the same period in the previous year, the business posted $0.22 earnings per share. Summit Hotel Properties updated its FY 2024 guidance to 0.900-1.000 EPS.
Summit Hotel Properties Trading Up 1.1 %
NYSE:INN opened at $6.25 on Friday. Summit Hotel Properties has a 12 month low of $5.31 and a 12 month high of $7.26. The company has a quick ratio of 0.80, a current ratio of 1.13 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average is $6.35 and its 200 day moving average is $6.38.
Summit Hotel Properties Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.32 annualized dividend and a dividend yield of 5.12%. This is a positive change from Summit Hotel Properties’s previous quarterly dividend of $0.06. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -100.00%.
Wall Street Analysts Forecast Growth
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Summit Hotel Properties Company Profile
Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company's portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.
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