Summit Hotel Properties Inc (INN) Expected to Announce Earnings of $0.36 Per Share

Equities analysts expect Summit Hotel Properties Inc (NYSE:INN) to report earnings per share (EPS) of $0.36 for the current quarter, according to Zacks. Four analysts have provided estimates for Summit Hotel Properties’ earnings, with estimates ranging from $0.35 to $0.38. Summit Hotel Properties posted earnings of $0.40 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 10%. The business is expected to report its next earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Summit Hotel Properties will report full-year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.32. For the next fiscal year, analysts expect that the business will report earnings of $1.26 per share, with EPS estimates ranging from $1.22 to $1.33. Zacks’ EPS calculations are an average based on a survey of research firms that follow Summit Hotel Properties.

A number of equities analysts recently commented on INN shares. Deutsche Bank reaffirmed a “buy” rating and issued a $14.00 target price on shares of Summit Hotel Properties in a report on Sunday, April 21st. ValuEngine raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Zacks Investment Research cut Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Finally, TheStreet raised Summit Hotel Properties from a “c” rating to a “b-” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $13.75.



NYSE INN opened at $12.27 on Monday. The firm has a market cap of $1.28 billion, a PE ratio of 9.09 and a beta of 1.43. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.82. Summit Hotel Properties has a 1-year low of $9.29 and a 1-year high of $15.61.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.18 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.72 dividend on an annualized basis and a yield of 5.87%. Summit Hotel Properties’s dividend payout ratio is currently 53.33%.

Institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in Summit Hotel Properties by 3,492.5% in the 1st quarter. Versant Capital Management Inc now owns 3,341 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 3,248 shares during the period. Pearl River Capital LLC bought a new stake in Summit Hotel Properties during the fourth quarter valued at about $36,000. Cresset Asset Management LLC bought a new stake in Summit Hotel Properties during the first quarter valued at about $66,000. Quantamental Technologies LLC bought a new stake in Summit Hotel Properties during the fourth quarter valued at about $75,000. Finally, Utah Retirement Systems bought a new stake in Summit Hotel Properties during the first quarter valued at about $114,000. 99.87% of the stock is currently owned by institutional investors.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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