Summit Hotel Properties Inc (NYSE:INN) Expected to Post Earnings of $0.27 Per Share

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Analysts predict that Summit Hotel Properties Inc (NYSE:INN) will post earnings per share of $0.27 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Summit Hotel Properties’ earnings. The highest EPS estimate is $0.28 and the lowest is $0.26. Summit Hotel Properties posted earnings per share of $0.30 during the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The company is scheduled to report its next earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Summit Hotel Properties will report full year earnings of $1.26 per share for the current year, with EPS estimates ranging from $1.24 to $1.26. For the next fiscal year, analysts forecast that the company will report earnings of $1.29 per share, with EPS estimates ranging from $1.24 to $1.34. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that follow Summit Hotel Properties.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). The business had revenue of $133.69 million for the quarter, compared to analyst estimates of $133.52 million. Summit Hotel Properties had a return on equity of 6.64% and a net margin of 14.44%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share.

INN has been the topic of a number of research reports. ValuEngine cut Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Zacks Investment Research cut Summit Hotel Properties from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, TheStreet cut Summit Hotel Properties from a “b-” rating to a “c+” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $13.25.

In other Summit Hotel Properties news, COO Craig J. Aniszewski sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.60, for a total value of $464,000.00. Following the transaction, the chief operating officer now owns 397,913 shares of the company’s stock, valued at $4,615,790.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.32% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Private Capital Group LLC lifted its stake in shares of Summit Hotel Properties by 82.7% during the second quarter. Private Capital Group LLC now owns 3,263 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,477 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Summit Hotel Properties during the second quarter valued at $69,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Summit Hotel Properties during the third quarter valued at $117,000. Coldstream Capital Management Inc. acquired a new position in shares of Summit Hotel Properties during the second quarter valued at $123,000. Finally, Redpoint Investment Management Pty Ltd acquired a new position in shares of Summit Hotel Properties during the third quarter valued at $130,000.

Shares of INN traded down $0.04 on Wednesday, reaching $12.05. 542,600 shares of the stock traded hands, compared to its average volume of 683,826. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 8.93 and a beta of 1.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05. Summit Hotel Properties has a 12 month low of $9.29 and a 12 month high of $12.63. The stock’s 50-day moving average price is $12.05 and its 200-day moving average price is $11.65.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date was Thursday, November 14th. Summit Hotel Properties’s dividend payout ratio is currently 53.33%.

Summit Hotel Properties Company Profile

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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