Summit Hotel Properties (NYSE:INN - Get Free Report) announced its quarterly earnings results on Monday. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.22), Zacks reports. Summit Hotel Properties had a net margin of 3.23% and a return on equity of 1.76%. The business had revenue of $176.81 million during the quarter, compared to analysts' expectations of $176.24 million. During the same period last year, the company earned $0.22 EPS. Summit Hotel Properties updated its FY 2024 guidance to 0.920-0.980 EPS.
Summit Hotel Properties Trading Down 1.9 %
Shares of INN traded down $0.12 on Tuesday, hitting $6.06. 1,092,810 shares of the stock traded hands, compared to its average volume of 752,990. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $656.54 million, a P/E ratio of 6.30 and a beta of 2.05. The stock's 50 day moving average is $6.59 and its two-hundred day moving average is $6.27. Summit Hotel Properties has a 1 year low of $5.66 and a 1 year high of $7.22.
Summit Hotel Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, November 15th.
Summit Hotel Properties Company Profile
(
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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.
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