Brokerages predict that Summit Hotel Properties Inc (NYSE:INN) will report earnings per share (EPS) of $0.36 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Summit Hotel Properties’ earnings. The lowest EPS estimate is $0.35 and the highest is $0.36. Summit Hotel Properties posted earnings of $0.40 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 10%. The company is expected to issue its next quarterly earnings results on Wednesday, August 7th.
On average, analysts expect that Summit Hotel Properties will report full-year earnings of $1.25 per share for the current year, with EPS estimates ranging from $1.23 to $1.26. For the next year, analysts anticipate that the business will report earnings of $1.23 per share, with EPS estimates ranging from $1.22 to $1.23. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Summit Hotel Properties.
Several research analysts have recently issued reports on the company. TheStreet upgraded Summit Hotel Properties from a “c” rating to a “b-” rating in a research note on Friday, May 3rd. ValuEngine raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Deutsche Bank reaffirmed a “buy” rating and set a $14.00 target price on shares of Summit Hotel Properties in a report on Sunday, April 21st. Finally, Zacks Investment Research lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.75.
A number of institutional investors have recently bought and sold shares of the stock. ClariVest Asset Management LLC grew its holdings in Summit Hotel Properties by 0.9% during the fourth quarter. ClariVest Asset Management LLC now owns 117,500 shares of the real estate investment trust’s stock worth $1,143,000 after acquiring an additional 1,000 shares during the period. Nordea Investment Management AB grew its holdings in Summit Hotel Properties by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 117,500 shares of the real estate investment trust’s stock valued at $1,143,000 after purchasing an additional 1,000 shares during the period. Mason Street Advisors LLC grew its holdings in Summit Hotel Properties by 3.4% in the first quarter. Mason Street Advisors LLC now owns 33,652 shares of the real estate investment trust’s stock valued at $384,000 after purchasing an additional 1,118 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Summit Hotel Properties by 2.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 66,300 shares of the real estate investment trust’s stock valued at $645,000 after purchasing an additional 1,300 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its holdings in Summit Hotel Properties by 5.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 26,357 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 1,347 shares during the period. 99.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:INN traded down $0.07 during trading on Wednesday, hitting $11.67. The stock had a trading volume of 420,540 shares, compared to its average volume of 570,296. Summit Hotel Properties has a 12-month low of $9.29 and a 12-month high of $14.80. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 8.64 and a beta of 1.30. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.82.
The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 6.17%. The ex-dividend date of this dividend was Thursday, May 16th. Summit Hotel Properties’s dividend payout ratio (DPR) is 53.33%.
About Summit Hotel Properties
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 April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.
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