Summit Hotel Properties (NYSE:INN) Sees Large Volume Increase – Should You Buy?

Shares of Summit Hotel Properties, Inc. (NYSE:INN) saw an uptick in trading volume on Wednesday . 1,644,865 shares traded hands during trading, an increase of 46% from the previous session’s volume of 1,126,580 shares.The stock last traded at $5.87 and had previously closed at $5.87.

Analyst Ratings Changes

Several research firms have recently issued reports on INN. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research upgraded Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Weiss Ratings upgraded Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $5.00.

Summit Hotel Properties Stock Up 2.2%

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.16. The firm has a market cap of $650.19 million, a price-to-earnings ratio of -20.69 and a beta of 1.29. The firm has a 50-day moving average of $4.96 and a two-hundred day moving average of $4.82.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share 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 business had revenue of $185.05 million during the quarter, compared to analysts’ expectations of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. As a group, sell-side analysts predict that Summit Hotel Properties, Inc. will post 0.72 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, May 15th. Summit Hotel Properties’s payout ratio is currently -110.34%.

Hedge Funds Weigh In On Summit Hotel Properties

Several large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in Summit Hotel Properties in the 3rd quarter valued at approximately $860,000. Versor Investments LP raised its holdings in Summit Hotel Properties by 286.9% in the 4th quarter. Versor Investments LP now owns 144,300 shares of the real estate investment trust’s stock valued at $703,000 after acquiring an additional 107,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Summit Hotel Properties by 12.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,079 shares of the real estate investment trust’s stock valued at $648,000 after acquiring an additional 14,633 shares in the last quarter. Pensionfund Sabic acquired a new position in Summit Hotel Properties in the 4th quarter valued at approximately $91,000. Finally, Pensionfund PDN acquired a new position in Summit Hotel Properties in the 4th quarter valued at approximately $336,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

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.