Summit Hotel Properties, Inc. (INN) Announces Quarterly Dividend of $0.17

Summit Hotel Properties, Inc. (NYSE:INN) announced a quarterly dividend on Monday, July 31st, Wall Street Journal reports. Shareholders of record on Wednesday, August 16th will be paid a dividend of 0.17 per share by the real estate investment trust on Thursday, August 31st. This represents a $0.68 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Monday, August 14th.

Summit Hotel Properties has increased its dividend payment by an average of 6.6% annually over the last three years and has raised its dividend every year for the last 3 years. Summit Hotel Properties has a dividend payout ratio of 53.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Summit Hotel Properties to earn $0.58 per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of 117.2%.

Shares of Summit Hotel Properties (NYSE INN) opened at 14.69 on Friday. The stock has a market capitalization of $1.53 billion, a PE ratio of 16.07 and a beta of 1.17. The firm’s 50-day moving average is $17.23 and its 200-day moving average is $16.84. Summit Hotel Properties has a one year low of $12.45 and a one year high of $19.39.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. Summit Hotel Properties had a net margin of 21.97% and a return on equity of 9.89%. The firm had revenue of $124.11 million during the quarter, compared to analysts’ expectations of $132.21 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts expect that Summit Hotel Properties will post $0.84 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by BNB Daily and is owned by of BNB Daily. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at

A number of research firms have commented on INN. Robert W. Baird reaffirmed an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Summit Hotel Properties in a research report on Friday, June 16th. Zacks Investment Research raised shares of Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Thursday, July 6th. BidaskClub cut shares of Summit Hotel Properties from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Cantor Fitzgerald decreased their target price on shares of Summit Hotel Properties to $19.00 and set a “buy” rating on the stock in a research report on Monday, June 5th. Finally, UBS AG cut shares of Summit Hotel Properties from an “outperform” rating to a “market perform” rating in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $18.00.

In other Summit Hotel Properties news, Chairman Daniel P. Hansen purchased 10,000 shares of Summit Hotel Properties stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $15.60 per share, with a total value of $156,000.00. Following the completion of the transaction, the chairman now owns 800,256 shares of the company’s stock, valued at $12,483,993.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.94% of the stock is currently owned by corporate insiders.

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 79 hotels with a total of 11,590 guestrooms located in 24 states.

Dividend History for Summit Hotel Properties (NYSE:INN)

Receive News & Ratings for Summit Hotel Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Hotel Properties Inc. and related companies with's FREE daily email newsletter.

Latest News

Leave a Reply