Summit Hotel Properties (NYSE:INN) Issues FY 2024 Earnings Guidance

Summit Hotel Properties (NYSE:INN) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 0.910-0.990 for the period, compared to the consensus EPS estimate of 0.940. The company issued revenue guidance of -.

Summit Hotel Properties Stock Performance

NYSE:INN traded up $0.05 during midday trading on Monday, hitting $6.16. The company’s stock had a trading volume of 1,059,625 shares, compared to its average volume of 725,577. Summit Hotel Properties has a fifty-two week low of $5.31 and a fifty-two week high of $6.98. The firm’s 50 day moving average is $5.94 and its 200-day moving average is $6.24. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $666.45 million, a P/E ratio of -25.67 and a beta of 2.03.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.20). Summit Hotel Properties had a negative return on equity of 0.56% and a negative net margin of 1.04%. The business had revenue of $188.14 million during the quarter, compared to analyst estimates of $181.40 million. During the same quarter last year, the company posted $0.22 EPS. Equities analysts anticipate that Summit Hotel Properties will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.08 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.32 annualized dividend and a yield of 5.19%. Summit Hotel Properties’s dividend payout ratio is presently -133.33%.

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.