Summit Hotel Properties, Inc. (NYSE:INN) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.26-$0.29 for the period, compared to the Thomson Reuters consensus estimate of $0.29. Summit Hotel Properties also updated its FY17 guidance to $1.29-$1.32 EPS.
A number of research firms have recently issued reports on INN. BidaskClub upgraded Summit Hotel Properties from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Summit Hotel Properties from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Monday, July 31st. Canaccord Genuity lowered their target price on Summit Hotel Properties from $21.00 to $18.00 and set a buy rating on the stock in a research report on Friday, August 4th. Royal Bank Of Canada reiterated a buy rating and set a $20.00 target price on shares of Summit Hotel Properties in a research report on Friday, August 4th. Finally, Deutsche Bank AG reiterated a buy rating and set a $17.00 target price (down from $19.00) on shares of Summit Hotel Properties in a research report on Wednesday, August 9th. 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 given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $17.72.
Shares of Summit Hotel Properties, Inc. (INN) opened at $14.95 on Wednesday. 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, Inc. has a 52 week low of $13.85 and a 52 week high of $19.39. The firm has a market capitalization of $1,586.05, a P/E ratio of 11.44 and a beta of 1.20.
Summit Hotel Properties (NYSE:INN) last announced its earnings results on Monday, October 30th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The business had revenue of $136.60 million during the quarter, compared to analyst estimates of $135.69 million. Summit Hotel Properties had a return on equity of 8.96% and a net margin of 20.21%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. equities analysts predict that Summit Hotel Properties, Inc. will post 1.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.55%. Summit Hotel Properties’s payout ratio is 82.93%.
COPYRIGHT VIOLATION NOTICE: This piece was published by Week Herald and is the sole property of of Week Herald. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://weekherald.com/2017/11/15/summit-hotel-properties-inc-inn-updates-q4-earnings-guidance.html.
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.
Receive News & Ratings for Summit Hotel Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Hotel Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.