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

Summit Hotel Properties, Inc. (NYSE:INN) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Monday, August 17th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, August 17th.

Summit Hotel Properties has increased its dividend payment by an average of 0.1%per year 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 analysts expect Summit Hotel Properties to earn $0.76 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 42.1%.

Summit Hotel Properties Price Performance

Shares of NYSE:INN opened at $7.01 on Wednesday. The firm has a market cap of $759.75 million, a PE ratio of -24.18 and a beta of 1.26. The firm’s fifty day moving average is $6.40 and its 200-day moving average is $5.25. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. Summit Hotel Properties has a 52 week low of $3.97 and a 52 week high of $7.14.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $185.05 million during the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Sell-side analysts predict that Summit Hotel Properties will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On Summit Hotel Properties

Several institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Summit Hotel Properties during the 1st quarter worth approximately $8,624,000. UBS Group AG increased its holdings in shares of Summit Hotel Properties by 18.9% during the third quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock valued at $38,079,000 after acquiring an additional 1,102,102 shares in the last quarter. Invesco Ltd. raised its position in shares of Summit Hotel Properties by 87.2% during the fourth quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock worth $3,772,000 after purchasing an additional 360,800 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Summit Hotel Properties by 12.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock worth $12,383,000 after purchasing an additional 279,823 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Summit Hotel Properties by 275.3% in the 4th quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock valued at $1,715,000 after purchasing an additional 258,261 shares during the period. 96.47% of the stock is owned by institutional investors and hedge funds.

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.