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Summit Hotel Properties, Inc. to Issue Quarterly Dividend of $0.08 (NYSE:INN)

Summit Hotel Properties logo with Finance background

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.76%.

Summit Hotel Properties has a dividend payout ratio of -168.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Summit Hotel Properties to earn $0.90 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 35.6%.

Summit Hotel Properties Trading Up 0.4 %

Shares of NYSE INN traded up $0.03 during midday trading on Thursday, hitting $6.72. The company's stock had a trading volume of 388,018 shares, compared to its average volume of 531,173. Summit Hotel Properties has a 12-month low of $5.66 and a 12-month high of $7.22. The business's 50 day moving average is $6.66 and its two-hundred day moving average is $6.52. The firm has a market cap of $728.47 million, a P/E ratio of 671.90 and a beta of 2.03. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01.

Summit Hotel Properties (NYSE:INN - Get Free Report) last posted its earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.22). Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. The business had revenue of $176.81 million for the quarter, compared to analyst estimates of $176.24 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, equities research analysts expect that Summit Hotel Properties will post 0.88 EPS for the current year.

Summit Hotel Properties Company Profile

(Get Free Report)

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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Dividend History for Summit Hotel Properties (NYSE:INN)

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