Summit Hotel Properties, Inc. (NYSE:INN) Receives Average Rating of “Hold” from Analysts

Shares of Summit Hotel Properties, Inc. (NYSE:INN) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $5.40.

INN has been the topic of several recent research reports. Raymond James Financial reissued an “outperform” rating and set a $7.00 price target on shares of Summit Hotel Properties in a research report on Monday, June 8th. 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. Finally, Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th.

Institutional Trading of Summit Hotel Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Summit Hotel Properties by 2.0% during the 1st quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust’s stock valued at $31,301,000 after buying an additional 140,495 shares during the period. UBS Group AG lifted its holdings in Summit Hotel Properties by 18.9% in the third quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock valued at $38,079,000 after acquiring an additional 1,102,102 shares during the last quarter. State Street Corp grew its position in Summit Hotel Properties by 1.2% in the fourth quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust’s stock worth $23,917,000 after acquiring an additional 56,090 shares during the period. Charles Schwab Investment Management Inc. grew its position in Summit Hotel Properties by 12.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock worth $12,383,000 after acquiring an additional 279,823 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Summit Hotel Properties during the first quarter worth $8,624,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

NYSE INN opened at $6.58 on Tuesday. The stock’s fifty day moving average is $6.08 and its two-hundred day moving average is $5.10. The firm has a market capitalization of $712.47 million, a P/E ratio of -22.67 and a beta of 1.26. 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 $7.14.

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

Summit Hotel Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 4.9%. Summit Hotel Properties’s dividend payout ratio is -110.34%.

About Summit Hotel Properties

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.