Summit Hotel Properties, Inc. (INN) to Issue Quarterly Dividend of $0.08 on February 28th

Summit Hotel Properties, Inc. (NYSE:INN) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Friday, February 14th.

Summit Hotel Properties has a dividend payout ratio of -168.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Trading Down 1.0 %

Shares of NYSE INN opened at $6.67 on Friday. Summit Hotel Properties has a 1-year low of $5.66 and a 1-year high of $7.22. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $6.67 and a two-hundred day moving average of $6.52. The company has a market cap of $722.62 million, a PE ratio of 666.50 and a beta of 2.03.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.22). The firm had revenue of $176.81 million for the quarter, compared to analyst estimates of $176.24 million. Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. During the same period in the prior year, the company posted $0.22 EPS. As a group, equities analysts expect that Summit Hotel Properties will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company’s portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.