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

Summit Hotel Properties, Inc. (NYSE:INN) declared a quarterly dividend on Thursday, January 22nd. Stockholders of record on Friday, February 13th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, February 13th.

Summit Hotel Properties has decreased its dividend payment by an average of 0.2%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% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Stock Down 1.0%

INN stock opened at $4.79 on Friday. The firm has a market cap of $521.37 million, a PE ratio of -29.95 and a beta of 1.31. Summit Hotel Properties has a 1 year low of $3.57 and a 1 year high of $6.96. The company has a fifty day simple moving average of $4.97 and a 200 day simple moving average of $5.28. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $177.12 million during the quarter, compared to analysts’ expectations of $179.03 million. Summit Hotel Properties had a return on equity of 0.02% and a net margin of 0.04%. Sell-side analysts anticipate that Summit Hotel Properties will post 0.88 EPS for the current fiscal year.

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.