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

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

Summit Hotel Properties Stock Performance

INN stock traded up $0.07 during trading hours on Monday, reaching $6.18. The stock had a trading volume of 686,530 shares, compared to its average volume of 751,201. The stock has a 50-day simple moving average of $6.61 and a 200 day simple moving average of $6.27. Summit Hotel Properties has a fifty-two week low of $5.66 and a fifty-two week high of $7.22. The stock has a market capitalization of $669.52 million, a PE ratio of -56.64 and a beta of 2.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.89 and a quick ratio of 0.89.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Friday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -290.91%.

About Summit Hotel Properties

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.