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

Summit Hotel Properties (NYSE:INN) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 0.920-0.980 for the period, compared to the consensus earnings per share estimate of 0.940. The company issued revenue guidance of -.

Summit Hotel Properties Price Performance

NYSE:INN traded up $0.07 during trading hours on Monday, reaching $6.18. 686,530 shares of the company were exchanged, compared to its average volume of 751,201. The company has a market capitalization of $669.52 million, a P/E ratio of -56.64 and a beta of 2.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50 day moving average of $6.61 and a 200 day moving average of $6.27. 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 business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Friday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -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.