Zacks: Brokerages Expect Summit Hotel Properties, Inc. (INN) Will Post Earnings of $0.37 Per Share

Wall Street analysts forecast that Summit Hotel Properties, Inc. (NYSE:INN) will report $0.37 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Summit Hotel Properties’ earnings. The lowest EPS estimate is $0.35 and the highest is $0.38. Summit Hotel Properties posted earnings of $0.42 per share in the same quarter last year, which would suggest a negative year over year growth rate of 11.9%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that Summit Hotel Properties will report full-year earnings of $1.32 per share for the current financial year, with EPS estimates ranging from $1.31 to $1.33. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.41 per share, with EPS estimates ranging from $1.39 to $1.43. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Summit Hotel Properties.

Several research firms have recently issued reports on INN. Robert W. Baird reaffirmed an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Summit Hotel Properties in a research report on Friday. Cantor Fitzgerald decreased their price objective on shares of Summit Hotel Properties to $19.00 and set a “buy” rating for the company in a research report on Monday, June 5th. ValuEngine raised shares of Summit Hotel Properties from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 6th. Canaccord Genuity lifted their price objective on shares of Summit Hotel Properties from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Deutsche Bank AG lifted their price objective on shares of Summit Hotel Properties from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $17.94.

Shares of Summit Hotel Properties (NYSE INN) traded down 0.32% during mid-day trading on Friday, hitting $18.89. The stock had a trading volume of 2,759,282 shares. Summit Hotel Properties has a 12 month low of $11.90 and a 12 month high of $19.15. The firm has a market cap of $1.77 billion, a PE ratio of 23.38 and a beta of 1.18. The stock’s 50-day moving average is $17.56 and its 200 day moving average is $16.17.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Tuesday, May 16th were given a $0.17 dividend. The ex-dividend date was Friday, May 12th. This is a boost from Summit Hotel Properties’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 3.60%. Summit Hotel Properties’s payout ratio is 85.00%.

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Summit Hotel Properties by 47.7% in the first quarter. Public Employees Retirement System of Ohio now owns 271,763 shares of the real estate investment trust’s stock worth $4,343,000 after buying an additional 87,791 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Summit Hotel Properties by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 538,127 shares of the real estate investment trust’s stock worth $8,599,000 after buying an additional 25,273 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in shares of Summit Hotel Properties during the first quarter worth approximately $120,000. Salem Investment Counselors Inc. boosted its stake in shares of Summit Hotel Properties by 846.7% in the first quarter. Salem Investment Counselors Inc. now owns 118,110 shares of the real estate investment trust’s stock worth $2,884,000 after buying an additional 105,634 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Summit Hotel Properties by 2.1% in the first quarter. Macquarie Group Ltd. now owns 2,874,865 shares of the real estate investment trust’s stock worth $45,940,000 after buying an additional 60,138 shares during the last quarter. 87.21% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Expect Summit Hotel Properties, Inc. (INN) Will Post Earnings of $0.37 Per Share” was originally reported by sleekmoney and is owned by of sleekmoney. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://sleekmoney.com/zacks-brokerages-expect-summit-hotel-properties-inc-inn-will-post-earnings-of-0-37-per-share/1916012.html.

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 76 hotels with over 10,705 guestrooms located in 22 states.

Get a free copy of the Zacks research report on Summit Hotel Properties (INN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/zacks-brokerages-expect-summit-hotel-properties-inc-inn-will-post-earnings-of-0-37-per-share/1916012.html

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 MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *