Summit Hotel Properties, Inc. (NYSE:INN) Stock Has Consensus Price Target of $5.40 According to Brokerages

Summit Hotel Properties, Inc. (NYSE:INN) has earned an average recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.40.

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Zacks Research cut Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Finally, Raymond James Financial restated an “outperform” rating and issued a $7.00 price target on shares of Summit Hotel Properties in a research report on Monday, June 8th.

Institutional Trading of Summit Hotel Properties

Several large investors have recently added to or reduced their stakes in INN. Bank of New York Mellon Corp acquired a new position in shares of Summit Hotel Properties during the 2nd quarter valued at about $4,316,000. Y Intercept Hong Kong Ltd grew its holdings in shares of Summit Hotel Properties by 717.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 268,530 shares of the real estate investment trust’s stock valued at $1,187,000 after purchasing an additional 235,699 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Summit Hotel Properties during the first quarter worth about $8,624,000. Public Employees Retirement System of Ohio acquired a new stake in Summit Hotel Properties during the second quarter worth about $1,633,000. Finally, Globeflex Capital L P purchased a new position in Summit Hotel Properties during the second quarter worth about $3,418,000. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Summit Hotel Properties Price Performance

Shares of NYSE INN opened at $5.72 on Friday. The firm has a 50-day simple moving average of $6.19 and a 200-day simple moving average of $5.70. The stock has a market capitalization of $617.44 million, a price-to-earnings ratio of -24.89 and a beta of 1.24. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.15. Summit Hotel Properties has a 52 week low of $3.97 and a 52 week high of $7.17.

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

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a yield of 5.6%. Summit Hotel Properties’s payout ratio is -139.13%.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a self-managed real estate investment trust (REIT) focused on owning premium-branded hotels in the upscale and upper-midscale segments. The company’s properties primarily operate under recognized hospitality brands, including those affiliated with Marriott International, Hilton, Hyatt Hotels and InterContinental Hotels Group.

Summit’s hotel portfolio is concentrated in the United States, with an emphasis on markets supported by business, leisure and other diverse sources of lodging demand.