Summit Hotel Properties, Inc. (INN) To Go Ex-Dividend on May 15th

Summit Hotel Properties, Inc. (NYSE:INN) declared a quarterly dividend on Thursday, April 23rd. Stockholders of record on Friday, May 15th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, May 15th.

Summit Hotel Properties has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Summit Hotel Properties has a payout ratio of -177.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Summit Hotel Properties to earn $0.74 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 43.2%.

Summit Hotel Properties Stock Performance

Summit Hotel Properties stock opened at $5.34 on Wednesday. The business has a 50 day moving average of $4.62 and a 200-day moving average of $4.80. Summit Hotel Properties has a 1 year low of $3.97 and a 1 year high of $6.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $578.13 million, a P/E ratio of -18.40 and a beta of 1.25.

Summit Hotel Properties (NYSE:INN) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The business had revenue of $185.05 million for the quarter, compared to analysts’ expectations of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. On average, equities research analysts predict that Summit Hotel Properties will post 0.72 earnings per share for the current year.

Hedge Funds Weigh In On Summit Hotel Properties

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Summit Hotel Properties during the 3rd quarter worth approximately $35,000. Corient Private Wealth LLC bought a new position in shares of Summit Hotel Properties during the 4th quarter worth approximately $52,000. CIBC Asset Management Inc bought a new position in shares of Summit Hotel Properties during the 4th quarter worth approximately $52,000. Tower Research Capital LLC TRC boosted its holdings in shares of Summit Hotel Properties by 148.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 6,442 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Summit Hotel Properties by 53.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 3,773 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors.

About Summit Hotel Properties

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company’s portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.