Summit Hotel Properties, Inc. (NYSE:INN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Summit Hotel Properties, Inc. (NYSE:INN) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.40.

INN has been the subject of several research reports. Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th. Wall Street Zen upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Raymond James Financial restated an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a research report on Monday. Finally, Zacks Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th.

Hedge Funds Weigh In On Summit Hotel Properties

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new stake in Summit Hotel Properties during the 3rd quarter valued at $35,000. Corient Private Wealth LLC bought a new stake in Summit Hotel Properties in the fourth quarter worth $52,000. CIBC Asset Management Inc bought a new stake in Summit Hotel Properties in the fourth quarter worth $52,000. BNP Paribas Financial Markets boosted its stake in Summit Hotel Properties by 53.6% during the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 3,773 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Summit Hotel Properties by 148.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 6,442 shares during the period. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Up 2.8%

Shares of INN opened at $6.29 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $682.02 million, a price-to-earnings ratio of -21.70 and a beta of 1.29. Summit Hotel Properties has a 1 year low of $3.97 and a 1 year high of $6.31. The business’s 50 day simple moving average is $5.23 and its 200-day simple moving average is $4.87.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.03%. The firm had revenue of $185.05 million during the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. As a group, equities analysts expect that Summit Hotel Properties will post 0.72 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 Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.08 per share. The ex-dividend date was Friday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 5.1%. Summit Hotel Properties’s dividend payout ratio is -110.34%.

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.