Research Analysts Offer Predictions for Summit Hotel Properties, Inc.’s Q1 2024 Earnings (NYSE:INN)

Summit Hotel Properties, Inc. (NYSE:INNGet Rating) – Equities researchers at Capital One Financial issued their Q1 2024 earnings estimates for Summit Hotel Properties in a report released on Thursday, September 15th. Capital One Financial analyst N. Malkin expects that the real estate investment trust will earn $0.31 per share for the quarter. Capital One Financial has a “Equal Weight” rating and a $10.00 price objective on the stock. The consensus estimate for Summit Hotel Properties’ current full-year earnings is $0.92 per share. Capital One Financial also issued estimates for Summit Hotel Properties’ Q2 2024 earnings at $0.38 EPS.

Separately, TheStreet downgraded shares of Summit Hotel Properties from a “c-” rating to a “d+” rating in a research report on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Summit Hotel Properties has a consensus rating of “Hold” and an average target price of $11.00.

Summit Hotel Properties Price Performance

INN stock opened at $7.81 on Monday. Summit Hotel Properties has a 1 year low of $6.70 and a 1 year high of $10.94. The firm has a 50-day moving average of $8.02 and a 200 day moving average of $8.61. The company has a market cap of $834.88 million, a P/E ratio of -26.03, a PEG ratio of 0.16 and a beta of 1.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.77 and a quick ratio of 1.77.

Summit Hotel Properties Dividend Announcement

The business also recently announced a — dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, August 16th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -53.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp lifted its position in Summit Hotel Properties by 313.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,443 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 2,611 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Summit Hotel Properties during the fourth quarter valued at approximately $47,000. Aaron Wealth Advisors LLC purchased a new position in shares of Summit Hotel Properties during the first quarter valued at approximately $703,000. Schroder Investment Management Group raised its stake in Summit Hotel Properties by 33.6% during the fourth quarter. Schroder Investment Management Group now owns 8,934 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 2,248 shares during the period. Finally, Van ECK Associates Corp raised its stake in Summit Hotel Properties by 15.1% during the first quarter. Van ECK Associates Corp now owns 9,291 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 1,217 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Summit Hotel Properties Company Profile

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Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of November 3, 2020, the Company's portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guestrooms located in 23 states.

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Earnings History and Estimates for Summit Hotel Properties (NYSE:INN)

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