Summit Hotel Properties, Inc. (NYSE:INN) Declares Quarterly Dividend of $0.08

Summit Hotel Properties, Inc. (NYSE:INN) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Friday, February 14th will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, February 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Friday, February 14th.

Summit Hotel Properties has a dividend payout ratio of -168.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Summit Hotel Properties to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 35.6%.

Summit Hotel Properties Stock Down 0.2 %

Summit Hotel Properties stock opened at $6.64 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $719.37 million, a P/E ratio of 663.50 and a beta of 2.02. The firm has a 50 day moving average price of $6.74 and a 200-day moving average price of $6.59. Summit Hotel Properties has a twelve month low of $5.66 and a twelve month high of $7.22.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company’s portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.