Summit Hotel Properties (NYSE:INN) Issues FY 2024 Earnings Guidance

Summit Hotel Properties (NYSE:INN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.920-0.980 for the period, compared to the consensus estimate of 0.940. The company issued revenue guidance of -.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock traded up $0.07 on Monday, reaching $6.18. 686,509 shares of the company were exchanged, compared to its average volume of 751,201. The firm has a market cap of $669.52 million, a price-to-earnings ratio of -56.18 and a beta of 2.05. Summit Hotel Properties has a 1-year low of $5.66 and a 1-year high of $7.22. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 0.89. The company’s 50-day moving average is $6.61 and its two-hundred day moving average is $6.27.

Summit Hotel Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.18%. The ex-dividend date is Friday, November 15th. Summit Hotel Properties’s dividend payout ratio is currently -290.91%.

About Summit Hotel Properties

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.