Equities research analysts expect that Summit Hotel Properties Inc (NYSE:INN) will report sales of $128.66 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Summit Hotel Properties’ earnings. The highest sales estimate is $132.29 million and the lowest is $125.24 million. Summit Hotel Properties posted sales of $132.51 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.9%. The firm is expected to announce its next earnings report on Tuesday, February 25th.
According to Zacks, analysts expect that Summit Hotel Properties will report full-year sales of $544.14 million for the current year, with estimates ranging from $540.60 million to $547.86 million. For the next fiscal year, analysts expect that the business will report sales of $565.95 million, with estimates ranging from $541.89 million to $583.02 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Summit Hotel Properties.
Summit Hotel Properties (NYSE:INN) last released 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 firm had revenue of $133.69 million for the quarter, compared to analysts’ expectations of $133.52 million. Summit Hotel Properties had a return on equity of 6.64% and a net margin of 14.44%. Summit Hotel Properties’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share.
Summit Hotel Properties stock traded down $0.14 during midday trading on Friday, reaching $12.07. The stock had a trading volume of 583,284 shares, compared to its average volume of 681,704. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 8.94 and a beta of 1.18. Summit Hotel Properties has a 52-week low of $9.29 and a 52-week high of $12.63. The company has a fifty day moving average of $12.10 and a 200 day moving average of $11.65.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 5.97%. Summit Hotel Properties’s dividend payout ratio (DPR) is 53.33%.
Several institutional investors and hedge funds have recently modified their holdings of INN. Metropolitan Life Insurance Co NY increased its stake in Summit Hotel Properties by 2.6% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 39,250 shares of the real estate investment trust’s stock worth $455,000 after buying an additional 992 shares during the period. Millennium Management LLC lifted its holdings in Summit Hotel Properties by 608.6% during the 3rd quarter. Millennium Management LLC now owns 251,503 shares of the real estate investment trust’s stock valued at $2,917,000 after buying an additional 216,011 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Summit Hotel Properties in the 3rd quarter valued at about $619,000. Voloridge Investment Management LLC purchased a new stake in Summit Hotel Properties in the 3rd quarter valued at about $417,000. Finally, Barclays PLC grew its stake in Summit Hotel Properties by 14.2% in the 3rd quarter. Barclays PLC now owns 301,844 shares of the real estate investment trust’s stock worth $3,500,000 after acquiring an additional 37,560 shares in the last quarter.
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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