Equities research analysts expect Summit Hotel Properties Inc (NYSE:INN) to report $0.36 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Summit Hotel Properties’ earnings. The highest EPS estimate is $0.37 and the lowest is $0.35. Summit Hotel Properties reported earnings per share of $0.35 during the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, October 30th.
On average, analysts expect that Summit Hotel Properties will report full year earnings of $1.35 per share for the current financial year, with EPS estimates ranging from $1.34 to $1.36. For the next financial year, analysts forecast that the business will report earnings of $1.38 per share, with EPS estimates ranging from $1.36 to $1.40. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Summit Hotel Properties.
Summit Hotel Properties (NYSE:INN) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. Summit Hotel Properties had a return on equity of 6.53% and a net margin of 14.16%. The business had revenue of $152.20 million during the quarter, compared to analysts’ expectations of $151.13 million. During the same period in the prior year, the firm posted $0.36 EPS. Summit Hotel Properties’s quarterly revenue was up 17.9% compared to the same quarter last year.
Separately, Zacks Investment Research raised Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $16.21.
Shares of INN traded up $0.27 during mid-day trading on Tuesday, reaching $12.64. The company had a trading volume of 486,800 shares, compared to its average volume of 639,753. Summit Hotel Properties has a twelve month low of $12.29 and a twelve month high of $16.39. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.79. The stock has a market cap of $1.42 billion, a PE ratio of 9.43, a PEG ratio of 4.82 and a beta of 1.21.
Several institutional investors and hedge funds have recently modified their holdings of INN. Northern Trust Corp grew its position in Summit Hotel Properties by 5.6% during the 1st quarter. Northern Trust Corp now owns 1,914,943 shares of the real estate investment trust’s stock worth $26,062,000 after acquiring an additional 101,239 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Summit Hotel Properties by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,528,790 shares of the real estate investment trust’s stock worth $20,807,000 after acquiring an additional 40,096 shares during the last quarter. Sei Investments Co. grew its position in Summit Hotel Properties by 17.5% during the 1st quarter. Sei Investments Co. now owns 31,720 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 4,720 shares during the last quarter. Citadel Advisors LLC grew its position in Summit Hotel Properties by 79.8% during the 1st quarter. Citadel Advisors LLC now owns 52,586 shares of the real estate investment trust’s stock worth $716,000 after acquiring an additional 23,342 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Summit Hotel Properties by 8.1% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 63,700 shares of the real estate investment trust’s stock worth $867,000 after acquiring an additional 4,800 shares during the last quarter. 98.77% of the stock is owned by institutional investors and hedge funds.
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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