Summit Hotel Properties (NYSE:INN) Stock Passes Above 200-Day Moving Average – Here’s Why

Summit Hotel Properties, Inc. (NYSE:INN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.82 and traded as high as $5.89. Summit Hotel Properties shares last traded at $5.8450, with a volume of 769,121 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on INN. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Zacks Research upgraded Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Summit Hotel Properties has an average rating of “Reduce” and an average price target of $5.00.

Summit Hotel Properties Stock Up 1.3%

The business has a fifty day moving average price of $4.96 and a two-hundred day moving average price of $4.82. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $633.36 million, a price-to-earnings ratio of -20.16 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $185.05 million for the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. On average, equities analysts expect that Summit Hotel Properties, Inc. will post 0.72 earnings per share for the current year.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is -110.34%.

Institutional Trading of Summit Hotel Properties

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Summit Hotel Properties during the third quarter worth about $35,000. Corient Private Wealth LLC acquired a new stake in Summit Hotel Properties during the fourth quarter worth about $52,000. CIBC Asset Management Inc acquired a new stake in Summit Hotel Properties during the fourth quarter worth about $52,000. Tower Research Capital LLC TRC grew its holdings in Summit Hotel Properties by 148.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 6,442 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Summit Hotel Properties by 53.6% during the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 3,773 shares during the period. 96.47% of the stock is owned by institutional investors and hedge funds.

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.