Jennison Associates LLC Has $33.80 Million Stake in Summit Hotel Properties, Inc. $INN

Jennison Associates LLC trimmed its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,941,074 shares of the real estate investment trust’s stock after selling 183,255 shares during the quarter. Jennison Associates LLC owned about 6.38% of Summit Hotel Properties worth $33,803,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Summit Hotel Properties during the 3rd quarter worth $860,000. Man Group plc lifted its stake in shares of Summit Hotel Properties by 6.6% during the 2nd quarter. Man Group plc now owns 458,749 shares of the real estate investment trust’s stock valued at $2,335,000 after buying an additional 28,207 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Summit Hotel Properties by 53.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 3,773 shares in the last quarter. Brevan Howard Capital Management LP lifted its stake in Summit Hotel Properties by 7.2% in the 2nd quarter. Brevan Howard Capital Management LP now owns 82,881 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 5,536 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Summit Hotel Properties by 45.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 615,704 shares of the real estate investment trust’s stock worth $3,134,000 after purchasing an additional 191,668 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors.

Key Headlines Impacting Summit Hotel Properties

Here are the key news stories impacting Summit Hotel Properties this week:

• Positive Sentiment: Q1 results beat FFO/AFFO and revenue estimates — AFFO (FFO) of $0.21 per share topped consensus and revenue came in above analyst projections, showing improving operating performance. Summit Hotel Properties (INN) Surpasses Q1 FFO and Revenue Estimates
• Positive Sentiment: Management raised FY2026 EPS guidance to $0.75–$0.85 (above the prior consensus ~$0.73), signaling confidence in cash?flow recovery for the year. SUMMIT HOTEL PROPERTIES REPORTS FIRST QUARTER 2026 RESULTS
• Positive Sentiment: Operational metrics improved: management highlighted positive RevPAR growth in Q1 (better than expected) and reported operating income of ~$14.1M and AFFO of $25.5M — evidence RevPAR momentum is translating to cash flow. SUMMIT HOTEL PROPERTIES REPORTS FIRST QUARTER 2026 RESULTS
• Positive Sentiment: Capital recycling: the company announced an agreement to sell the Courtyard and Residence Inn Dallas (Arlington South), consistent with a strategy to monetize non-core assets and strengthen the balance sheet. SUMMIT HOTEL PROPERTIES REPORTS FIRST QUARTER 2026 RESULTS
• Neutral Sentiment: Company and sell?side commentary expect modest full?year RevPAR growth (management/analysts ~0.5%–3% for 2026), though they noted pockets of stronger demand tied to event-driven activity (World Cup trends). That implies uneven recovery — tailwinds for some markets, muted for others. Summit hotel properties forecasts 0.5% to 3% 2026 RevPAR growth as World Cup pace trends up high teens
• Neutral Sentiment: Full earnings and management commentary (call/transcripts and slide deck) are available for detail; investors can review commentary on mix/market performance and capital allocation. Summit Hotel Properties, Inc. (INN) Q1 2026 Earnings Call Transcript Summit Hotel (INN) Q1 2026 Earnings Transcript
• Negative Sentiment: Profitability and leverage remain concerns: the company still reports a negative net margin and negative ROE, and leverage (debt/equity) is meaningful — factors that could limit upside if RevPAR recovery slows. SUMMIT HOTEL PROPERTIES REPORTS FIRST QUARTER 2026 RESULTS

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on INN. Zacks Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Friday, March 27th. Wall Street Zen upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Deutsche Bank Aktiengesellschaft set a $6.00 target price on shares of Summit Hotel Properties and gave the stock a “buy” rating in a report on Tuesday, January 13th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $5.00.

Summit Hotel Properties Stock Performance

Shares of NYSE:INN opened at $5.17 on Friday. The company has a market capitalization of $561.95 million, a price-to-earnings ratio of -22.46 and a beta of 1.25. Summit Hotel Properties, Inc. has a 12 month low of $3.97 and a 12 month high of $6.00. The firm’s 50-day moving average is $4.50 and its 200 day moving average is $4.81. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.14.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $185.05 million during the quarter, compared to analysts’ expectations of $180.51 million. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.02%. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Research analysts predict that Summit Hotel Properties, Inc. will post 0.72 EPS for the current year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Friday, May 15th. Summit Hotel Properties’s payout ratio is -139.13%.

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.