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 Up 1.1 %

INN stock traded up $0.07 during trading on Monday, reaching $6.18. The stock had a trading volume of 686,509 shares, compared to its average volume of 751,201. The firm has a fifty day moving average price of $6.61 and a 200 day moving average price of $6.27. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $669.52 million, a P/E 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.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis 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%.

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.