Summit Hotel Properties (NYSE:INN) Rating Increased to Hold at Wall Street Zen

Summit Hotel Properties (NYSE:INN) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Monday, December 29th. Zacks Research cut shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Robert W. Baird set a $5.00 price objective on Summit Hotel Properties in a research report on Wednesday, December 17th. Summit Redstone set a $4.50 target price on Summit Hotel Properties in a report on Tuesday, November 4th. Finally, Bank of America reissued an “underperform” rating and set a $4.50 price target (down from $5.75) on shares of Summit Hotel Properties in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $5.00.

Summit Hotel Properties Stock Performance

NYSE:INN opened at $4.51 on Friday. The stock has a 50-day moving average price of $4.63 and a 200 day moving average price of $5.12. The stock has a market capitalization of $490.14 million, a P/E ratio of -19.59 and a beta of 1.29. Summit Hotel Properties has a 12-month low of $3.57 and a 12-month high of $6.65. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Wednesday, February 25th. The real estate investment trust reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). Summit Hotel Properties had a negative return on equity of 0.50% and a negative net margin of 0.87%.The business had revenue of $174.96 million during the quarter, compared to analysts’ expectations of $172.88 million. Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. Equities research analysts forecast that Summit Hotel Properties will post 0.88 EPS for the current fiscal year.

Insider Activity

In other news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $4.84, for a total transaction of $121,000.00. Following the sale, the director directly owned 444,295 shares in the company, valued at approximately $2,150,387.80. This represents a 5.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Summit Hotel Properties

Several large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new position in shares of Summit Hotel Properties in the 2nd quarter worth approximately $892,000. Long Pond Capital LP purchased a new stake in Summit Hotel Properties during the 2nd quarter valued at $47,846,000. Penserra Capital Management LLC purchased a new stake in Summit Hotel Properties during the 2nd quarter valued at $1,257,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Summit Hotel Properties by 33.4% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 144,212 shares of the real estate investment trust’s stock worth $734,000 after buying an additional 36,107 shares during the last quarter. Finally, Strs Ohio boosted its stake in Summit Hotel Properties by 3,028.7% during the second quarter. Strs Ohio now owns 588,200 shares of the real estate investment trust’s stock worth $2,994,000 after buying an additional 569,400 shares during the period. 96.47% of the stock is owned by institutional investors.

Summit Hotel Properties Company Profile

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company’s portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.