Summit Hotel Properties, Inc. (NYSE:INN) Sees Large Decline in Short Interest

Summit Hotel Properties, Inc. (NYSE:INN) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 1,920,764 shares, a decline of 35.1% from the April 15th total of 2,958,547 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 895,039 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Trading of Summit Hotel Properties

Several institutional investors have recently added to or reduced their stakes in INN. Arrowstreet Capital Limited Partnership bought a new stake in Summit Hotel Properties in the 1st quarter valued at $8,624,000. UBS Group AG boosted its stake in Summit Hotel Properties by 18.9% in the 3rd quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock valued at $38,079,000 after purchasing an additional 1,102,102 shares during the period. Invesco Ltd. boosted its stake in Summit Hotel Properties by 87.2% in the 4th quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock valued at $3,772,000 after purchasing an additional 360,800 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Summit Hotel Properties by 12.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock valued at $12,383,000 after acquiring an additional 279,823 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of Summit Hotel Properties by 275.3% during the 4th quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock valued at $1,715,000 after acquiring an additional 258,261 shares during the period. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Performance

Shares of NYSE INN traded down $0.03 during midday trading on Tuesday, hitting $5.44. 331,698 shares of the company’s stock were exchanged, compared to its average volume of 1,149,096. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.16. Summit Hotel Properties has a 12 month low of $3.97 and a 12 month high of $6.00. The company’s 50 day moving average price is $4.67 and its 200 day moving average price is $4.80. The firm has a market capitalization of $588.96 million, a PE ratio of -18.74 and a beta of 1.25.

Summit Hotel Properties (NYSE:INN) last issued its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The company had revenue of $185.05 million during the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. As a group, analysts predict that Summit Hotel Properties will post 0.72 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Friday, May 15th. Summit Hotel Properties’s payout ratio is currently -110.34%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Friday, March 27th. Finally, Wall Street Zen raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $5.00.

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.