ENN -Equity Inns - hotel properties real estate investment trust

Equity Inns, Inc. (ENN) recently declared a pro rated dividend of $0.07065 per share in connection with the closing of a recently announced merger. Equity Inns offers a current dividend yield of 4.4%. Wall Street forecasts have been on the rise for ENN. The company is expected to grow by 14% over the next three to five years, twice the expected growth rate that the industry average currently offers. Full Analysis Equity Inns, a Zacks #1 Rank (Strong Buy) company, is in the business of acquiring equity interests in hotel properties. Equity is a real estate investment trust. They have one wholly-owned subsidiary, Equity Inns Trust. The company recently announced that it expects its previously announced merger with an affiliate of Whitehall Street Global Real Estate Limited Partnership 2007 ("Whitehall") to close on or about Thursday, October 25, 2007. ENN added that in connection with the closing of the merger, it has declared a pro rated dividend, subject to the satisfaction or waiver of the closing conditions to the merger. The record date is expected to be October 24, 2007. The dividend amount is expected to be $0.07065 per share, which will be paid on the third business day after the closing date of the merger. Equity Inns offers a current dividend yield of 4.4%. In mid-September, the third largest hotel real estate investment trust (REIT) declared a quarterly cash dividends for the third quarter 2007 of 25 cents per common share. The record date was September 28, 2007. The payable date will be on the earlier of the third business day after the closing date of the aforementioned merger or on November 1, 2007. Wall Street forecasts have been on the rise for ENN. Current earnings estimates of $1.60 per share moved up by a penny over the past month. Two months ago, analyst expectations stood at $1.57, which was an increase from the three month-ago level of $1.55. ENN is expected to grow by 14% over the next three to five years. That is twice the expected growth rate that the industry average currently offers. The company’s return on equity of 11% exceeds the industry’s average of 7%. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home