Summit Hotel Properties (NYSE:INN) Cut to Hold at Zacks Research

Summit Hotel Properties (NYSE:INN) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Raymond James Financial restated an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research note on Monday, June 8th. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.40.

Summit Hotel Properties Stock Performance

Shares of INN stock opened at $6.20 on Monday. The company’s fifty day simple moving average is $6.59 and its 200-day simple moving average is $5.50. Summit Hotel Properties has a 52 week low of $3.97 and a 52 week high of $7.17. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. The company has a market cap of $668.13 million, a PE ratio of -26.93 and a beta of 1.26.

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

Institutional Trading of Summit Hotel Properties

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd lifted its stake in Summit Hotel Properties by 717.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 268,530 shares of the real estate investment trust’s stock worth $1,187,000 after acquiring an additional 235,699 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Summit Hotel Properties in the first quarter worth approximately $8,624,000. Globeflex Capital L P bought a new stake in Summit Hotel Properties in the second quarter worth $3,418,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Summit Hotel Properties during the 2nd quarter worth about $590,000. Finally, Jennison Associates LLC grew its holdings in Summit Hotel Properties by 2.0% during the first quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust’s stock valued at $31,301,000 after purchasing an additional 140,495 shares during the last quarter. 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.