Wall Street brokerages predict that Summit Hotel Properties Inc (NYSE:INN) will report earnings of $0.29 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Summit Hotel Properties’ earnings, with estimates ranging from $0.27 to $0.32. Summit Hotel Properties posted earnings of $0.30 per share in the same quarter last year, which suggests a negative year over year growth rate of 3.3%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Summit Hotel Properties will report full year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.31 to $1.36. For the next fiscal year, analysts expect that the business will report earnings of $1.47 per share, with EPS estimates ranging from $1.45 to $1.52. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Summit Hotel Properties.
Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $136.60 million for the quarter, compared to analysts’ expectations 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 was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 earnings per share.
A number of equities research analysts have commented on the company. Zacks Investment Research lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. KeyCorp set a $17.00 price objective on Summit Hotel Properties and gave the company a “buy” rating in a research note on Sunday, October 29th. Raymond James Financial raised Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 target price on the stock in a research note on Monday, October 30th. Janney Montgomery Scott cut Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research note on Monday, November 20th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $17.00 target price on shares of Summit Hotel Properties in a research note on Monday, November 20th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.50.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Summit Hotel Properties by 28.3% in the 2nd quarter. Vanguard Group Inc. now owns 16,660,607 shares of the real estate investment trust’s stock valued at $310,721,000 after acquiring an additional 3,670,472 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Summit Hotel Properties by 211.2% during the 2nd quarter. Renaissance Technologies LLC now owns 788,642 shares of the real estate investment trust’s stock worth $14,708,000 after purchasing an additional 535,242 shares during the last quarter. GW&K Investment Management LLC boosted its stake in shares of Summit Hotel Properties by 47.0% during the 4th quarter. GW&K Investment Management LLC now owns 1,402,992 shares of the real estate investment trust’s stock worth $21,368,000 after purchasing an additional 448,699 shares during the last quarter. State Street Corp boosted its stake in shares of Summit Hotel Properties by 11.1% during the 2nd quarter. State Street Corp now owns 4,031,665 shares of the real estate investment trust’s stock worth $75,190,000 after purchasing an additional 402,804 shares during the last quarter. Finally, Westpac Banking Corp acquired a new stake in shares of Summit Hotel Properties during the 3rd quarter worth about $5,695,000. 96.22% of the stock is currently owned by institutional investors.
Shares of Summit Hotel Properties (NYSE:INN) traded up $0.02 during midday trading on Thursday, reaching $15.51. The company’s stock had a trading volume of 175,930 shares, compared to its average volume of 758,683. Summit Hotel Properties has a 52-week low of $14.23 and a 52-week high of $19.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $1,634.01, a PE ratio of 18.96, a PEG ratio of 2.35 and a beta of 1.19.
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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 83 hotels with a total of 12,242 guestrooms located in 26 states.
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