Summit Hotel Properties Inc. Declares Quarterly Dividend of $0.11 (INN)
Summit Hotel Properties (NYSE:INN) declared a quarterly dividend on Thursday, January 30th, American Banking & Market News reports. Investors of record on Friday, February 14th will be given a dividend of 0.1125 per share on Friday, February 28th. This represents a $0.45 dividend on an annualized basis and a yield of 5.06%.
A number of research firms have recently commented on INN. Analysts at Zacks upgraded shares of Summit Hotel Properties from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, January 13th. They now have a $9.20 price target on the stock. On the ratings front, analysts at BMO Capital Markets upgraded shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, November 26th. They now have a $10.00 price target on the stock. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $10.41.
Shares of Summit Hotel Properties (NYSE:INN) traded up 0.56% on Thursday, hitting $8.94. 1,006,309 shares of the company’s stock traded hands. Summit Hotel Properties has a 1-year low of $8.50 and a 1-year high of $10.56. The stock’s 50-day moving average is $8.87 and its 200-day moving average is $9.25. The company’s market cap is $761.9 million.
Summit Hotel Properties, Inc (NYSE:INN) is a real estate investment trust and a hotel investment company.
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