Wall Street analysts predict that Summit Hotel Properties, Inc. (NYSE:INN) will post $0.28 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Summit Hotel Properties’ earnings. The lowest EPS estimate is $0.27 and the highest is $0.29. Summit Hotel Properties posted earnings per share of $0.04 in the same quarter last year, which would indicate a positive year-over-year growth rate of 600%. The business is scheduled to issue its next earnings results on Thursday, February 22nd.
On average, analysts expect that Summit Hotel Properties will report full-year earnings of $1.32 per share for the current year, with EPS estimates ranging from $1.31 to $1.33. For the next financial year, analysts expect that the business will post earnings of $1.45 per share, with EPS estimates ranging from $1.43 to $1.48. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Summit Hotel Properties.
Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $136.60 million during the quarter, compared to analyst estimates of $135.69 million. Summit Hotel Properties had a net margin of 20.21% and a return on equity of 8.96%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS.
A number of research analysts have recently weighed in on INN shares. KeyCorp reissued a “hold” rating on shares of Summit Hotel Properties in a research report on Friday, August 25th. Cantor Fitzgerald reissued a “buy” rating and set a $17.00 target price on shares of Summit Hotel Properties in a research report on Monday, November 20th. Zacks Investment Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday, November 23rd. Robert W. Baird reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a report on Friday, September 8th. Finally, Bank of America downgraded shares of Summit Hotel Properties from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $19.00 to $14.00 in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $17.50.
Summit Hotel Properties (NYSE:INN) traded down $0.02 during trading hours on Tuesday, reaching $14.94. 334,800 shares of the company’s stock traded hands, compared to its average volume of 865,797. Summit Hotel Properties has a 52-week low of $14.23 and a 52-week high of $19.39. The stock has a market cap of $1,559.98, a price-to-earnings ratio of 11.25 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.61 and a current ratio of 1.61.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Wednesday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 82.93%.
Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP raised its position in shares of Summit Hotel Properties by 485.9% during the 3rd quarter. GSA Capital Partners LLP now owns 115,990 shares of the real estate investment trust’s stock valued at $1,855,000 after buying an additional 96,194 shares in the last quarter. Piedmont Investment Advisors LLC raised its position in Summit Hotel Properties by 351.4% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 101,725 shares of the real estate investment trust’s stock worth $1,627,000 after purchasing an additional 79,189 shares during the period. Vident Investment Advisory LLC raised its position in Summit Hotel Properties by 8.0% in the 3rd quarter. Vident Investment Advisory LLC now owns 121,051 shares of the real estate investment trust’s stock worth $1,936,000 after purchasing an additional 8,953 shares during the period. Asset Management One Co. Ltd. raised its position in Summit Hotel Properties by 33.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 297,383 shares of the real estate investment trust’s stock worth $4,755,000 after purchasing an additional 74,413 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Summit Hotel Properties by 52.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 564,096 shares of the real estate investment trust’s stock worth $9,019,000 after purchasing an additional 194,773 shares during the period. Hedge funds and other institutional investors own 95.71% of the company’s stock.
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About Summit Hotel Properties
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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