Globeflex Capital L P Makes New $3.42 Million Investment in Summit Hotel Properties, Inc. $INN

Globeflex Capital L P bought a new position in Summit Hotel Properties, Inc. (NYSE:INN) during the second quarter, HoldingsChannel.com reports. The fund bought 487,570 shares of the real estate investment trust’s stock, valued at approximately $3,418,000.

Other hedge funds have also recently made changes to their positions in the company. Amundi lifted its holdings in shares of Summit Hotel Properties by 3.4% in the 1st quarter. Amundi now owns 109,185 shares of the real estate investment trust’s stock valued at $591,000 after acquiring an additional 3,623 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Summit Hotel Properties by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock worth $337,000 after acquiring an additional 2,528 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Summit Hotel Properties by 1.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 721,875 shares of the real estate investment trust’s stock worth $3,905,000 after acquiring an additional 9,879 shares during the last quarter. Jane Street Group LLC increased its stake in Summit Hotel Properties by 1.7% during the first quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock worth $896,000 after acquiring an additional 2,793 shares during the last quarter. Finally, Strs Ohio bought a new stake in Summit Hotel Properties during the first quarter worth approximately $102,000. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INN has been the subject of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of Summit Hotel Properties in a research note on Monday, June 8th. Weiss Ratings raised Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Summit Hotel Properties presently has an average rating of “Moderate Buy” and a consensus price target of $5.40.

Summit Hotel Properties Stock Performance

Summit Hotel Properties stock opened at $6.17 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $665.43 million, a P/E ratio of -26.82 and a beta of 1.26. Summit Hotel Properties, Inc. has a 1-year low of $3.97 and a 1-year high of $7.17. The company’s 50-day moving average is $6.60 and its 200 day moving average is $5.48.

Summit Hotel Properties (NYSE:INN) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. The business had revenue of $199.02 million during 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. Research analysts forecast that Summit Hotel Properties, Inc. will post 0.76 EPS for the current year.

Summit Hotel Properties Announces Dividend

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

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.