$145.63 Million in Sales Expected for Summit Hotel Properties Inc (INN) This Quarter
Wall Street brokerages expect that Summit Hotel Properties Inc (NYSE:INN) will announce sales of $145.63 million for the current quarter, according to Zacks. Four analysts have provided estimates for Summit Hotel Properties’ earnings. The highest sales estimate is $149.30 million and the lowest is $141.22 million. Summit Hotel Properties reported sales of $136.59 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The company is scheduled to issue its next quarterly earnings results on Monday, October 29th.
According to Zacks, analysts expect that Summit Hotel Properties will report full-year sales of $572.07 million for the current fiscal year, with estimates ranging from $563.66 million to $578.09 million. For the next year, analysts expect that the company will report sales of $587.73 million per share, with estimates ranging from $559.70 million to $614.01 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Summit Hotel Properties.
Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $152.20 million for the quarter, compared to analysts’ expectations of $151.13 million. Summit Hotel Properties had a net margin of 14.16% and a return on equity of 6.53%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share.
A number of institutional investors and hedge funds have recently bought and sold shares of INN. Profund Advisors LLC increased its stake in Summit Hotel Properties by 23.7% in the 1st quarter. Profund Advisors LLC now owns 19,734 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 3,786 shares during the last quarter. UBS Group AG increased its stake in Summit Hotel Properties by 4.0% in the 1st quarter. UBS Group AG now owns 107,703 shares of the real estate investment trust’s stock valued at $1,465,000 after buying an additional 4,134 shares during the last quarter. People s United Financial Inc. increased its stake in Summit Hotel Properties by 3.9% in the 2nd quarter. People s United Financial Inc. now owns 122,981 shares of the real estate investment trust’s stock valued at $1,760,000 after buying an additional 4,667 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in Summit Hotel Properties by 19.9% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 28,300 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 4,700 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Summit Hotel Properties by 17.5% in the 1st quarter. Sei Investments Co. now owns 31,720 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 4,720 shares during the last quarter. 98.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE INN traded down $0.15 during midday trading on Tuesday, reaching $13.74. 9,689 shares of the stock were exchanged, compared to its average volume of 479,173. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 4.91 and a beta of 1.21. Summit Hotel Properties has a 12 month low of $12.77 and a 12 month high of $16.39. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.79.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Thursday, August 16th will be given a $0.18 dividend. The ex-dividend date is Wednesday, August 15th. This represents a $0.72 annualized dividend and a yield of 5.24%. Summit Hotel Properties’s dividend payout ratio is currently 53.73%.
Summit Hotel Properties Company Profile
Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of August 1, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,657 guestrooms located in 26 states.
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