Summit Hotel Properties, Inc. (NYSE:INN) Plans Quarterly Dividend of $0.08

Summit Hotel Properties, Inc. (NYSE:INN) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Friday, May 15th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, May 15th.

Summit Hotel Properties has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 2 years. Summit Hotel Properties has a payout ratio of -177.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Summit Hotel Properties to earn $0.77 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 41.6%.

Summit Hotel Properties Stock Down 0.5%

INN stock opened at $4.70 on Friday. The firm has a market cap of $510.82 million, a PE ratio of -20.41 and a beta of 1.23. Summit Hotel Properties has a 12 month low of $3.85 and a 12 month high of $6.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $4.45 and a 200 day simple moving average of $4.83.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Wednesday, February 25th. The real estate investment trust reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.24). The business had revenue of $174.96 million during the quarter, compared to analyst estimates of $172.88 million. Summit Hotel Properties had a negative return on equity of 0.50% and a negative net margin of 0.87%.Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. Equities research analysts forecast that Summit Hotel Properties will post 0.73 earnings per share for the current fiscal year.

Summit Hotel Properties Company Profile

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company’s portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.