Summit Hotel Properties Inc. Declares Quarterly Dividend of $0.11 (INN)
Summit Hotel Properties (NYSE:INN) announced a quarterly dividend on Friday, November 1st, ARN reports. Shareholders of record on Friday, November 15th will be paid a dividend of $0.1125 per share on Friday, November 29th. This represents a $0.45 annualized dividend and a dividend yield of 4.90%.
A number of analysts have recently weighed in on INN shares. Analysts at Merrill Lynch initiated coverage on shares of Summit Hotel Properties in a research note to investors on Monday, October 21st. They set a “neutral” rating and a $10.00 price target on the stock. On a related note, analysts at Bank of America Corp. initiated coverage on shares of Summit Hotel Properties in a research note to investors on Monday, October 21st. They set a “neutral” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Summit Hotel Properties from $11.50 to $12.00 in a research note to investors on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.81.
Shares of Summit Hotel Properties (NYSE:INN) traded up 0.33% on Friday, hitting $9.22. 57,638 shares of the company’s stock traded hands. Summit Hotel Properties has a 52-week low of $7.91 and a 52-week high of $10.56. The stock’s 50-day moving average is $9.25 and its 200-day moving average is $9.67. The company has a market cap of $610.4 million and a P/E ratio of 1838.00.
Summit Hotel Properties, Inc (NYSE:INN) is a real estate investment trust and a hotel investment company.
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