Summit Hotel Properties (NYSE:INN) updated its FY20 earnings guidance on Tuesday. The company provided EPS guidance of $1.15-1.27 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.24. Summit Hotel Properties also updated its FY 2020
After-Hours guidance to 1.15-1.27 EPS.
INN has been the topic of a number of analyst reports. ValuEngine upgraded shares of Summit Hotel Properties from a strong sell rating to a sell rating in a research note on Friday, January 10th. Capital One Financial raised shares of Summit Hotel Properties from an equal weight rating to an overweight rating and upped their price objective for the company from $13.00 to $13.50 in a research report on Monday, January 13th. Royal Bank of Canada restated a buy rating and set a $13.00 target price on shares of Summit Hotel Properties in a research note on Sunday, December 22nd. TheStreet lowered Summit Hotel Properties from a b- rating to a c+ rating in a research report on Wednesday, November 6th. Finally, Zacks Investment Research upgraded Summit Hotel Properties from a sell rating to a hold rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $13.63.
Shares of Summit Hotel Properties stock opened at $9.86 on Thursday. The business has a 50-day moving average price of $11.58 and a 200 day moving average price of $11.75. Summit Hotel Properties has a fifty-two week low of $9.84 and a fifty-two week high of $12.63. The firm has a market cap of $1.06 billion, a P/E ratio of 15.41 and a beta of 1.25. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70.
Summit Hotel Properties (NYSE:INN) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Summit Hotel Properties had a return on equity of 6.94% and a net margin of 15.04%. The company had revenue of $133.78 million during the quarter, compared to analyst estimates of $130.67 million. During the same quarter last year, the firm earned $0.30 EPS. The business’s revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts anticipate that Summit Hotel Properties will post 1.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 7.30%. The ex-dividend date is Thursday, February 13th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 57.60%.
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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