Summit Hotel Properties, Inc. (NYSE:INN) Sees Significant Decrease in Short Interest

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Summit Hotel Properties during the third quarter valued at $35,000. Corient Private Wealth LLC acquired a new position in shares of Summit Hotel Properties during the fourth quarter valued at $52,000. CIBC Asset Management Inc acquired a new position in shares of Summit Hotel Properties during the fourth quarter valued at $52,000. Tower Research Capital LLC TRC increased its holdings in shares of 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 valued at $55,000 after purchasing an additional 6,442 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings 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 acquiring an additional 3,773 shares during the period. 96.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities 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 analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $5.00.

Summit Hotel Properties Price Performance

Shares of INN opened at $5.42 on Wednesday. The firm has a market capitalization of $586.77 million, a price-to-earnings ratio of -18.67 and a beta of 1.25. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. Summit Hotel Properties has a one year low of $3.97 and a one year high of $6.00. The stock’s fifty day moving average is $4.69 and its 200-day moving average is $4.80.

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

Summit Hotel Properties Announces Dividend

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