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

Summit Hotel Properties, Inc. (NYSE:INN) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Monday, August 17th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, August 31st. This represents a c) dividend on an annualized basis 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 by an average of 0.1%per year over the last three years and has increased 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. 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 INN opened at $7.01 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50-day simple moving average of $6.40 and a 200-day simple moving average of $5.25. Summit Hotel Properties has a fifty-two week low of $3.97 and a fifty-two week high of $7.14. The company has a market capitalization of $759.75 million, a price-to-earnings ratio of -24.18 and a beta of 1.26.

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

Institutional Investors Weigh In On Summit Hotel Properties

Institutional investors have recently made changes to their positions in the company. Amundi increased its stake in shares of Summit Hotel Properties by 3.4% during the first quarter. Amundi now owns 109,185 shares of the real estate investment trust’s stock worth $591,000 after purchasing an additional 3,623 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Summit Hotel Properties by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock valued at $337,000 after purchasing an additional 2,528 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Summit Hotel Properties by 1.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 721,875 shares of the real estate investment trust’s stock worth $3,905,000 after buying an additional 9,879 shares in the last quarter. Jane Street Group LLC increased its position in Summit Hotel Properties by 1.7% during the 1st quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock worth $896,000 after purchasing an additional 2,793 shares in the last quarter. Finally, Strs Ohio bought a new position in Summit Hotel Properties in the first quarter valued at about $102,000. Institutional investors own 96.47% of the company’s stock.

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.