Summit Hotel Properties, Inc. (NYSE:INN) Given Average Rating of “Hold” by Brokerages

Summit Hotel Properties, Inc. (NYSE:INN) has earned a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $5.40.

INN has been the topic of several analyst reports. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Raymond James Financial reissued an “outperform” rating and issued a $7.00 price objective on shares of Summit Hotel Properties in a report on Monday, June 8th. Finally, Zacks Research cut shares of Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th.

Institutional Trading of Summit Hotel Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Summit Hotel Properties by 4.2% during 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 buying an additional 2,528 shares during the period. Jane Street Group LLC grew its position in Summit Hotel Properties by 1.7% in 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 period. Amundi grew its position in Summit Hotel Properties by 19.9% in the third quarter. Amundi now owns 18,320 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 3,040 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Summit Hotel Properties by 7.3% during the first quarter. Resona Asset Management Co. Ltd. now owns 48,128 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 3,261 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Summit Hotel Properties by 22.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust’s stock worth $92,000 after acquiring an additional 3,527 shares during the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

INN stock opened at $5.72 on Wednesday. Summit Hotel Properties has a 1 year low of $3.97 and a 1 year high of $7.17. 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 $616.90 million, a PE ratio of -24.87 and a beta of 1.24. The business has a 50 day simple moving average of $6.52 and a 200-day simple moving average of $5.55.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 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 the consensus estimate 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. Equities research analysts anticipate that Summit Hotel Properties will post 0.76 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.6%. The ex-dividend date was Monday, August 17th. 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.