Summit Hotel Properties (INN) Updates Q4 Earnings Guidance

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Summit Hotel Properties (NYSE:INN) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.26-0.29 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.28.

Shares of INN traded down $0.02 during trading hours on Tuesday, hitting $11.54. 785,100 shares of the company were exchanged, compared to its average volume of 648,153. The company has a market cap of $1.19 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 5.19 and a beta of 1.21. Summit Hotel Properties has a 52 week low of $10.91 and a 52 week high of $16.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.51 and a current ratio of 1.51.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $152.20 million during the quarter, compared to the consensus estimate of $151.13 million. Summit Hotel Properties had a return on equity of 6.53% and a net margin of 14.16%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, research analysts predict that Summit Hotel Properties will post 1.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, November 15th. This represents a $0.72 annualized dividend and a dividend yield of 6.24%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 53.73%.

INN has been the subject of several recent analyst reports. Zacks Investment Research upgraded Summit Hotel Properties from a sell rating to a hold rating in a research note on Wednesday, July 11th. Bank of America downgraded Summit Hotel Properties from a buy rating to a neutral rating in a research note on Tuesday, October 23rd. Finally, ValuEngine downgraded Summit Hotel Properties from a sell rating to a strong sell rating in a research note on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $16.08.

Summit Hotel Properties Company Profile

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 August 1, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,657 guestrooms located in 26 states.

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