Summit Hotel Properties (NYSE:INN) Reaches New 1-Year High – Time to Buy?

Summit Hotel Properties, Inc. (NYSE:INN)’s share price reached a new 52-week high during 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Wall Street Zen raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $7.00 target price on shares of Summit Hotel Properties in a report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.40.

Summit Hotel Properties Price Performance

The stock has a market capitalization of $696.21 million, a P/E ratio of -22.16 and a beta of 1.29. 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 stock has a 50-day simple moving average of $5.40 and a 200 day simple moving average of $4.90.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $185.05 million for 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, equities 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 company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -110.34%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP boosted its position in Summit Hotel Properties by 40.8% in the 1st quarter. Quantinno Capital Management LP now owns 204,482 shares of the real estate investment trust’s stock valued at $904,000 after buying an additional 59,220 shares during the last quarter. SummitTX Capital L.P. acquired a new position in shares of Summit Hotel Properties in the 1st quarter valued at $57,000. Weiss Asset Management LP acquired a new position in shares of Summit Hotel Properties in the 1st quarter valued at $510,000. Renaissance Technologies LLC acquired a new position in shares of Summit Hotel Properties in the 1st quarter valued at $69,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Hotel Properties in the 1st quarter valued at $8,624,000. 96.47% of the stock is currently owned by institutional investors.

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.