Summit Hotel Properties, Inc. (NYSE:INN) Given Consensus Recommendation of “Hold” by Analysts

Summit Hotel Properties, Inc. (NYSE:INN) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $5.40.

A number of equities analysts have recently weighed in on the company. Weiss Ratings raised Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Raymond James Financial reissued an “outperform” rating and issued a $7.00 price target on shares of Summit Hotel Properties in a report on Monday. Finally, Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th.

Summit Hotel Properties Stock Up 2.8%

INN opened at $6.29 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. Summit Hotel Properties has a fifty-two week low of $3.97 and a fifty-two week high of $6.31. The firm’s fifty day moving average is $5.23 and its 200 day moving average is $4.87. The stock has a market cap of $682.02 million, a price-to-earnings ratio of -21.70 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $185.05 million during 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, sell-side analysts forecast that Summit Hotel Properties will post 0.72 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, May 15th. Summit Hotel Properties’s payout ratio is -110.34%.

Hedge Funds Weigh In On Summit Hotel Properties

Several institutional investors have recently bought and sold shares of INN. GSA Capital Partners LLP bought a new position in shares of Summit Hotel Properties during the 3rd quarter valued at about $860,000. Intech Investment Management LLC grew its position in shares of Summit Hotel Properties by 102.0% during the fourth quarter. Intech Investment Management LLC now owns 180,884 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 91,335 shares in the last quarter. Versor Investments LP increased its holdings in shares of Summit Hotel Properties by 286.9% in the fourth quarter. Versor Investments LP now owns 144,300 shares of the real estate investment trust’s stock worth $703,000 after purchasing an additional 107,000 shares during the last quarter. Metis Global Partners LLC increased its holdings in shares of Summit Hotel Properties by 26.7% in the third quarter. Metis Global Partners LLC now owns 22,824 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 4,807 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Summit Hotel Properties in the third quarter worth about $298,000. 96.47% of the stock is owned by hedge funds and other 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.