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

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 6.8%. The ex-dividend date of this dividend is Friday, May 15th.

Summit Hotel Properties has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 2 years. Summit Hotel Properties has a payout ratio of -177.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Summit Hotel Properties to earn $0.77 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 41.6%.

Summit Hotel Properties Stock Down 0.5%

INN stock opened at $4.70 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.14. Summit Hotel Properties has a fifty-two week low of $3.85 and a fifty-two week high of $6.00. The firm’s 50-day simple moving average is $4.45 and its 200 day simple moving average is $4.83. The stock has a market cap of $510.82 million, a PE ratio of -20.41 and a beta of 1.23.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Wednesday, February 25th. The real estate investment trust reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). Summit Hotel Properties had a negative net margin of 0.87% and a negative return on equity of 0.50%. The firm had revenue of $174.96 million for the quarter, compared to analyst estimates of $172.88 million. Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. As a group, sell-side analysts predict that Summit Hotel Properties will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INN. Weiss Ratings reissued a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Friday, March 27th. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft set a $6.00 price objective on shares of Summit Hotel Properties and gave the company a “buy” rating in a research note on Tuesday, January 13th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $5.00.

Summit Hotel Properties Company Profile

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.