Summit Hotel Properties Inc Announces Quarterly Dividend of $0.12 (INN)
Summit Hotel Properties (NYSE:INN) announced a quarterly dividend on Friday, August 1st, StockRatingsNetwork.com reports. Investors of record on Friday, August 15th will be paid a dividend of 0.1175 per share on Friday, August 29th. This represents a $0.47 annualized dividend and a dividend yield of 4.58%.
INN has been the subject of a number of recent research reports. Analysts at Robert W. Baird raised their price target on shares of Summit Hotel Properties from $11.00 to $12.00 in a research note on Wednesday, July 23rd. On a related note, analysts at Zacks upgraded shares of Summit Hotel Properties from an “underperform” rating to a “neutral” rating in a research note on Friday, June 13th. They now have a $10.60 price target on the stock. Finally, analysts at MLV & Co
raised their price target on shares of Summit Hotel Properties from $1.00 to $12.00 in a research note on Thursday, June 12th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Summit Hotel Properties currently has a consensus rating of “Buy” and an average target price of $11.01.
Shares of Summit Hotel Properties (NYSE:INN) traded down 0.29% during mid-day trading on Friday, hitting $10.24. 196,457 shares of the company’s stock traded hands. Summit Hotel Properties has a 52 week low of $8.50 and a 52 week high of $10.79. The stock’s 50-day moving average is $10.54 and its 200-day moving average is $9.58. The company’s market cap is $876.1 million.
Summit Hotel Properties (NYSE:INN) last announced its earnings results on Monday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.20. The company had revenue of $89.50 million for the quarter, compared to the consensus estimate of $87.33 million. The company’s revenue for the quarter was up 49.9% on a year-over-year basis. On average, analysts predict that Summit Hotel Properties will post $0.89 earnings per share for the current fiscal year.
Summit Hotel Properties, Inc (NYSE:INN), is a real estate investment trust (REIT).
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