Summit Hotel Properties (NYSE:INN) Sets New 52-Week High – What’s Next?

Summit Hotel Properties, Inc. (NYSE:INN) reached a new 52-week high during trading on Monday . The company traded as high as $7.20 and last traded at $7.0090, with a volume of 730 shares changing hands. The stock had previously closed at $7.07.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INN. Zacks Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Raymond James Financial reiterated an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th. Finally, Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.40.

Summit Hotel Properties Price Performance

The firm has a market cap of $761.99 million, a P/E ratio of -24.25 and a beta of 1.29. 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 stock’s 50-day simple moving average is $5.78 and its two-hundred day simple moving average is $5.01.

Summit Hotel Properties (NYSE:INN) last released its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $185.05 million during the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.03%. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Equities research analysts forecast that Summit Hotel Properties, Inc. will post 0.74 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s payout ratio is -110.34%.

Institutional Investors Weigh In On Summit Hotel Properties

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Summit Hotel Properties during the 3rd quarter worth approximately $35,000. Corient Private Wealth LLC purchased a new stake in Summit Hotel Properties in the fourth quarter worth $52,000. CIBC Asset Management Inc bought a new stake in shares of Summit Hotel Properties during the fourth quarter worth $52,000. BNP Paribas Financial Markets lifted its position in shares of 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 purchasing an additional 3,773 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of 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 valued at $55,000 after purchasing an additional 6,442 shares during the period. 96.47% of the stock is currently 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.