Summit Hotel Properties, Inc. (NYSE:INN) Updates FY17 Earnings Guidance

Summit Hotel Properties, Inc. (NYSE:INN) updated its FY17 earnings guidance on Monday. The company provided EPS guidance of $1.29-$1.32 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.31. Summit Hotel Properties also updated its Q4 guidance to $0.26-$0.29 EPS.

Shares of Summit Hotel Properties, Inc. (NYSE INN) opened at $14.95 on Wednesday. The company has a market capitalization of $1,586.05, a PE ratio of 11.44 and a beta of 1.20. Summit Hotel Properties, Inc. has a 52-week low of $13.85 and a 52-week high of $19.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.61 and a current ratio of 1.61.

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, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $135.69 million. Summit Hotel Properties had a return on equity of 8.96% and a net margin of 20.21%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. analysts expect that Summit Hotel Properties, Inc. will post 1.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.55%. The ex-dividend date is Wednesday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is 82.93%.

Several analysts have commented on INN shares. Zacks Investment Research upgraded Summit Hotel Properties from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Monday, July 31st. Robert W. Baird reaffirmed a buy rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a research note on Friday, September 8th. Deutsche Bank AG reaffirmed a buy rating and issued a $17.00 price objective (down from $19.00) on shares of Summit Hotel Properties in a research note on Wednesday, August 9th. Canaccord Genuity reduced their price objective on Summit Hotel Properties from $21.00 to $18.00 and set a buy rating on the stock in a research note on Friday, August 4th. Finally, Royal Bank Of Canada reaffirmed a buy rating and issued a $20.00 price objective on shares of Summit Hotel Properties in a research note on Friday, August 4th. Two equities research 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 company. The company has an average rating of Buy and an average price target of $17.72.

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Summit Hotel Properties Company Profile

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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