Summit Hotel Properties (NYSE:INN) Reaches New 1-Year High – Here’s What Happened

Summit Hotel Properties, Inc. (NYSE:INN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.39 and last traded at $6.3640, with a volume of 5356915 shares changing hands. The stock had previously closed at $6.20.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on INN shares. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Raymond James Financial reaffirmed an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a 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 note 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 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 assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Trading Up 2.6%

The company has a market capitalization of $689.60 million, a price-to-earnings ratio of -21.94 and a beta of 1.29. The business has a fifty day moving average price of $5.31 and a 200 day moving average price of $4.88. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $180.51 million. 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 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, May 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.0%. Summit Hotel Properties’s payout ratio is -110.34%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INN. Quarry LP acquired a new position in shares of Summit Hotel Properties during the third quarter worth approximately $35,000. Corient Private Wealth LLC bought a new stake in shares of Summit Hotel Properties during the fourth quarter valued at approximately $52,000. CIBC Asset Management Inc bought a new stake in shares of Summit Hotel Properties during the fourth quarter valued at approximately $52,000. BNP Paribas Financial Markets increased 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 valued at $55,000 after purchasing an additional 3,773 shares during the period. Finally, Tower Research Capital LLC TRC increased its position 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 institutional investors and hedge funds.

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.