Summit Hotel Properties, Inc. Plans Quarterly Dividend of $0.08 (NYSE:INN)

Summit Hotel Properties, Inc. (NYSE:INN) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.76%.

Summit Hotel Properties has a dividend payout ratio of -168.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Summit Hotel Properties to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 35.6%.

Summit Hotel Properties Trading Up 0.4 %

Shares of INN stock opened at $6.72 on Friday. The stock has a market capitalization of $728.47 million, a price-to-earnings ratio of 671.90 and a beta of 2.03. The company’s fifty day simple moving average is $6.66 and its two-hundred day simple moving average is $6.52. Summit Hotel Properties has a 1 year low of $5.66 and a 1 year high of $7.22. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.78 and a quick ratio of 0.78.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.22). The company had revenue of $176.81 million for the quarter, compared to the consensus estimate of $176.24 million. Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, analysts anticipate that Summit Hotel Properties will post 0.88 earnings per share for the current year.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company’s portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.