Wall Street brokerages expect that Summit Hotel Properties Inc (NYSE:INN) will report earnings per share (EPS) of $0.29 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Summit Hotel Properties’ earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.30. Summit Hotel Properties posted earnings per share of $0.30 during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The business is expected to announce its next earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Summit Hotel Properties will report full-year earnings of $1.34 per share for the current fiscal year, with EPS estimates ranging from $1.32 to $1.36. For the next year, analysts forecast that the firm will report earnings of $1.37 per share, with EPS estimates ranging from $1.33 to $1.40. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Summit Hotel Properties.

Summit Hotel Properties (NYSE:INN) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). The company had revenue of $142.34 million for the quarter, compared to the consensus estimate of $141.18 million. Summit Hotel Properties had a return on equity of 7.79% and a net margin of 16.76%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS.

Several equities research analysts have issued reports on INN shares. Zacks Investment Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Thursday, October 4th. Bank of America lowered shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a report on Tuesday, October 23rd. ValuEngine lowered shares of Summit Hotel Properties from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Raymond James lowered their price target on shares of Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Finally, Deutsche Bank lowered their price target on shares of Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $15.17.

In other Summit Hotel Properties news, Chairman Daniel P. Hansen purchased 10,000 shares of the stock in a transaction on Friday, November 2nd. The shares were purchased at an average price of $11.35 per share, with a total value of $113,500.00. Following the acquisition, the chairman now directly owns 1,001,155 shares of the company’s stock, valued at approximately $11,363,109.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.12% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Usca Ria LLC bought a new stake in shares of Summit Hotel Properties in the 3rd quarter worth about $142,000. Paloma Partners Management Co bought a new stake in shares of Summit Hotel Properties in the 2nd quarter worth about $182,000. Tower Research Capital LLC TRC bought a new stake in shares of Summit Hotel Properties in the 2nd quarter worth about $185,000. Xact Kapitalforvaltning AB grew its holdings in shares of Summit Hotel Properties by 49.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 19,618 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Summit Hotel Properties in the 2nd quarter worth about $317,000. 99.06% of the stock is currently owned by institutional investors and hedge funds.

Summit Hotel Properties stock traded down $0.02 on Friday, hitting $11.67. The company’s stock had a trading volume of 738,439 shares, compared to its average volume of 753,011. The firm has a market capitalization of $1.22 billion, a PE ratio of 8.71, a price-to-earnings-growth ratio of 5.33 and a beta of 1.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 1.52. Summit Hotel Properties has a one year low of $10.91 and a one year high of $16.15.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 6.17%. The ex-dividend date is Thursday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 53.73%.

About Summit Hotel Properties

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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