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

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

Summit Hotel Properties Stock Performance

Shares of NYSE INN traded up $0.32 during midday trading on Wednesday, hitting $6.38. 487,687 shares of the company’s stock traded hands, compared to its average volume of 751,685. The firm has a fifty day moving average of $6.58 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. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $691.21 million, a price-to-earnings ratio of 6.30 and a beta of 2.05.

Summit Hotel Properties (NYSE:INN) last announced its earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.22). Summit Hotel Properties had a return on equity of 1.76% and a net margin of 3.23%. The company had revenue of $176.81 million during the quarter, compared to the consensus estimate of $176.24 million. During the same period in the prior year, the business posted $0.22 earnings per share. On average, analysts forecast that Summit Hotel Properties will post 0.87 earnings per share for the current year.

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.02%.

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.