Summit Hotel Properties (NYSE:INN) Issues Earnings Results, Misses Expectations By $0.22 EPS

Posted by Steve Reilly on Nov 5th, 2024

Summit Hotel Properties (NYSE:INN – Get Free Report) posted 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 analysts’ expectations 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 previous year, the firm earned $0.22 EPS. Summit Hotel Properties updated its FY 2024 guidance to 0.920-0.980 EPS.

Summit Hotel Properties Trading Down 1.6 %

NYSE:INN traded down $0.10 during midday trading on Tuesday, hitting $6.08. The stock had a trading volume of 191,387 shares, compared to its average volume of 748,621. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average of $6.59 and a 200 day moving average of $6.27. The company has a market capitalization of $658.71 million, a price-to-earnings ratio of 6.30 and a beta of 2.05. Summit Hotel Properties has a one year low of $5.66 and a one year high of $7.22.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given 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 of this dividend is Friday, November 15th.

Summit Hotel Properties Company Profile

(Get Free Report)

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.