Summit Hotel Properties (NYSE:INN) Sets New 52-Week High – Here’s Why

Summit Hotel Properties, Inc. (NYSE:INN) shares reached a new 52-week high on Tuesday . The company traded as high as $6.07 and last traded at $5.9680, with a volume of 120154 shares. The stock had previously closed at $5.98.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INN. 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 reaffirmed an “outperform” rating and set a $7.00 price target on shares of Summit Hotel Properties in a research note on Monday. Finally, Wall Street Zen raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Summit Hotel Properties presently has a consensus rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Price Performance

The stock has a 50 day moving average of $5.12 and a two-hundred day moving average of $4.84. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $640.98 million, a P/E ratio of -20.40 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN) last issued 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. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The business had revenue of $185.05 million for the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Sell-side analysts predict that Summit Hotel Properties, Inc. will post 0.72 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -110.34%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Summit Hotel Properties by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock valued at $337,000 after acquiring an additional 2,528 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Summit Hotel Properties by 1.7% in the 1st quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock valued at $896,000 after acquiring an additional 2,793 shares in the last quarter. Amundi raised its stake in shares of Summit Hotel Properties by 19.9% in the 3rd quarter. Amundi now owns 18,320 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 3,040 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Summit Hotel Properties by 7.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 48,128 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 3,261 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Summit Hotel Properties by 22.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust’s stock valued at $92,000 after acquiring an additional 3,527 shares in the last quarter. 96.47% of the stock is owned by 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.