Summit Hotel Properties, Inc. (INN) to Distribute Quarterly Dividend of $0.08 on August 31st

Summit Hotel Properties, Inc. (NYSE:INN) declared a quarterly dividend on Tuesday, July 28th. Shareholders of record on Monday, August 17th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Monday, August 17th.

Summit Hotel Properties has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Summit Hotel Properties has a dividend payout ratio of -177.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Summit Hotel Properties to earn $0.77 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 41.6%.

Summit Hotel Properties Price Performance

Shares of INN opened at $6.07 on Friday. The stock has a market capitalization of $654.11 million, a P/E ratio of -26.37 and a beta of 1.26. Summit Hotel Properties has a twelve month low of $3.97 and a twelve month high of $7.17. The company has a 50 day moving average of $6.61 and a 200-day moving average of $5.42. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.15.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $199.02 million for the quarter, compared to the consensus estimate of $198.41 million. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, equities research analysts forecast that Summit Hotel Properties will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INN has been the subject of a number of analyst reports. Zacks Research raised shares of Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $7.00 target price on shares of Summit Hotel Properties in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.40.

Summit Hotel Properties Company Profile

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company’s portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.