Summit Hotel Properties Inc (NYSE:INN) announced a quarterly dividend on Tuesday, February 6th, Wall Street Journal reports. Shareholders of record on Friday, February 16th will be given a dividend of 0.18 per share by the real estate investment trust on Wednesday, February 28th. This represents a $0.72 annualized dividend and a yield of 4.92%. The ex-dividend date is Thursday, February 15th. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.17.
Summit Hotel Properties has raised its dividend by an average of 13.5% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Summit Hotel Properties has a dividend payout ratio of 54.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Summit Hotel Properties to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 48.2%.
Shares of Summit Hotel Properties (NYSE:INN) traded up $0.23 during trading hours on Tuesday, hitting $14.63. The stock had a trading volume of 1,267,664 shares, compared to its average volume of 804,527. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.64. Summit Hotel Properties has a 1-year low of $14.03 and a 1-year high of $19.39. The stock has a market cap of $1,585.00, a PE ratio of 17.73, a P/E/G ratio of 2.28 and a beta of 1.22.
TRADEMARK VIOLATION NOTICE: This news story was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/06/summit-hotel-properties-inc-inn-increases-dividend-to-0-18-per-share.html.
About Summit Hotel Properties
Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 83 hotels with a total of 12,242 guestrooms located in 26 states.
Receive News & Ratings for Summit Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Hotel Properties and related companies with MarketBeat.com's FREE daily email newsletter.