Virtus Advisers LLC Acquires Shares of 121,477 Summit Hotel Properties, Inc. $INN

Virtus Advisers LLC acquired a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 121,477 shares of the real estate investment trust’s stock, valued at approximately $852,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at about $35,000. Corient Private Wealth LLC purchased a new position in Summit Hotel Properties during the 4th quarter worth approximately $52,000. CIBC Asset Management Inc purchased a new position in Summit Hotel Properties during the 4th quarter worth approximately $52,000. Tower Research Capital LLC TRC increased its position in 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 worth $55,000 after buying an additional 6,442 shares during the period. Finally, BNP Paribas Financial Markets increased its position in 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 buying an additional 3,773 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INN shares. Weiss Ratings raised Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Raymond James Financial restated an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a research report on Monday, June 8th. Finally, Zacks Research raised shares of Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Summit Hotel Properties presently has an average rating of “Moderate Buy” and a consensus price target of $5.40.

Summit Hotel Properties Price Performance

Shares of NYSE:INN opened at $6.16 on Friday. Summit Hotel Properties, Inc. has a one year low of $3.97 and a one year high of $7.17. The stock has a market capitalization of $664.36 million, a price-to-earnings ratio of -26.78 and a beta of 1.26. The company has a 50-day simple moving average of $6.60 and a 200-day simple moving average of $5.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 0.71.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $199.02 million for the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%.Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. On average, analysts predict that Summit Hotel Properties, Inc. will post 0.76 EPS for the current year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Monday, August 17th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -139.13%.

Summit Hotel Properties 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.