Wall Street brokerages expect Summit Hotel Properties Inc (NYSE:INN) to announce $126.81 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Summit Hotel Properties’ earnings, with the lowest sales estimate coming in at $126.60 million and the highest estimate coming in at $127.02 million. Summit Hotel Properties reported sales of $110.32 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.9%. The firm is expected to issue its next earnings report after the market closes on Wednesday, February 21st.
On average, analysts expect that Summit Hotel Properties will report full-year sales of $126.81 million for the current financial year, with estimates ranging from $510.20 million to $510.65 million. For the next financial year, analysts forecast that the company will post sales of $582.32 million per share, with estimates ranging from $576.80 million to $594.28 million. Zacks’ sales averages are an average based on a survey of research firms that cover Summit Hotel Properties.
INN has been the subject of a number of recent analyst reports. KeyCorp set a $17.00 price objective on shares of Summit Hotel Properties and gave the company a “buy” rating in a research report on Sunday, October 29th. Cantor Fitzgerald restated a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a research report on Monday, November 20th. Zacks Investment Research upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Janney Montgomery Scott downgraded shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research report on Monday, November 20th. Finally, Raymond James Financial upgraded shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price objective for the company in a research report on Monday, October 30th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Summit Hotel Properties has a consensus rating of “Hold” and an average target price of $17.50.
Shares of Summit Hotel Properties (NYSE INN) opened at $14.43 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market cap of $1,504.71, a PE ratio of 10.85, a P/E/G ratio of 2.18 and a beta of 1.22. Summit Hotel Properties has a 12-month low of $13.94 and a 12-month high of $19.39.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.99%. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 87.80%.
Summit Hotel Properties Company Profile
Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 83 hotels with a total of 12,242 guestrooms located in 26 states.
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