Summit Hotel Properties (NYSE:INN – Get Free Report) released its quarterly earnings data on Monday. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.22), Zacks reports. The business had revenue of $176.81 million for the quarter, compared to the consensus estimate of $176.24 million. Summit Hotel Properties had a net margin of 3.23% and a return on equity of 1.76%. During the same quarter in the prior year, the business posted $0.22 earnings per share. Summit Hotel Properties updated its FY 2024 guidance to 0.920-0.980 EPS.
Summit Hotel Properties Stock Down 1.6 %
INN traded down $0.10 on Tuesday, hitting $6.08. The company had a trading volume of 191,387 shares, compared to its average volume of 748,621. The stock has a market capitalization of $658.71 million, a price-to-earnings ratio of 6.30 and a beta of 2.05. 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 stock has a fifty day moving average price of $6.59 and a 200-day moving average price of $6.27. Summit Hotel Properties has a 12-month low of $5.66 and a 12-month high of $7.22.
Summit Hotel Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date is Friday, November 15th.
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.
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