Wall Street brokerages forecast that Summit Hotel Properties Inc (NYSE:INN) will report earnings per share (EPS) of $0.36 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Summit Hotel Properties’ earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.38. Summit Hotel Properties reported earnings of $0.40 per share during the same quarter last year, which would suggest a negative year over year growth rate of 10%. The firm is scheduled to issue its next earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Summit Hotel Properties will report full year earnings of $1.26 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.30. For the next financial year, analysts expect that the business will report earnings of $1.24 per share, with EPS estimates ranging from $1.22 to $1.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Summit Hotel Properties.
A number of equities analysts have recently issued reports on the company. ValuEngine raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Deutsche Bank reissued a “buy” rating and set a $14.00 target price on shares of Summit Hotel Properties in a research note on Sunday, April 21st. Zacks Investment Research raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, March 12th. Finally, TheStreet raised Summit Hotel Properties from a “c” rating to a “b-” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $13.75.
INN traded down $0.14 on Monday, hitting $12.11. 725,665 shares of the company traded hands, compared to its average volume of 568,784. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.82. The company has a market cap of $1.29 billion, a PE ratio of 8.97 and a beta of 1.43. Summit Hotel Properties has a 12-month low of $9.29 and a 12-month high of $15.61.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.95%. The ex-dividend date of this dividend is Thursday, May 16th. Summit Hotel Properties’s dividend payout ratio (DPR) is 53.33%.
Hedge funds have recently modified their holdings of the company. Pearl River Capital LLC purchased a new position in shares of Summit Hotel Properties during the 4th quarter worth approximately $36,000. Versant Capital Management Inc grew its holdings in shares of Summit Hotel Properties by 3,492.5% in the 1st quarter. Versant Capital Management Inc now owns 3,341 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 3,248 shares during the period. Oregon Public Employees Retirement Fund acquired a new stake in shares of Summit Hotel Properties in the 4th quarter worth approximately $40,000. Cresset Asset Management LLC acquired a new stake in shares of Summit Hotel Properties in the 1st quarter worth approximately $66,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Summit Hotel Properties in the 4th quarter worth approximately $75,000. 99.87% of the stock is owned by institutional investors and hedge funds.
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 April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.
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