Summit Hotel Properties (NYSE:INN) Hits New 52-Week High – Here’s Why

Summit Hotel Properties, Inc. (NYSE:INN) hit a new 52-week high on Thursday. The stock traded as high as $7.17 and last traded at $7.1450, with a volume of 99,365 shares. The stock had previously closed at $7.04.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings lowered Summit Hotel Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Zacks Research cut Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Summit Hotel Properties currently has an average rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Stock Performance

The stock has a market cap of $742.55 million, a PE ratio of -29.93 and a beta of 1.29. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50 day moving average of $6.02 and a two-hundred day moving average of $5.98.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data 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. The company had revenue of $199.02 million for the quarter, compared to analysts’ expectations of $198.41 million. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. Research analysts predict that Summit Hotel Properties, Inc. will post 0.77 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, August 17th. Summit Hotel Properties’s dividend payout ratio is currently -139.13%.

Institutional Trading of Summit Hotel Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Summit Hotel Properties in the 2nd quarter valued at about $39,000. SummitTX Capital L.P. acquired a new stake in shares of Summit Hotel Properties in the first quarter valued at approximately $57,000. Signaturefd LLC boosted its holdings in shares of Summit Hotel Properties by 49.6% in the third quarter. Signaturefd LLC now owns 11,468 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 3,804 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Summit Hotel Properties during the first quarter worth approximately $69,000. Finally, Legal & General Group Plc purchased a new position in shares of Summit Hotel Properties during the second quarter worth approximately $71,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a real estate investment trust (REIT) focused on owning and investing in premium-branded, select-service hotels in the United States. Its properties generally operate under nationally recognized hotel brands and serve business and leisure travelers.

The company’s portfolio has included hotels affiliated with major hospitality brands such as Marriott, Hilton, Hyatt and InterContinental Hotels Group. Summit emphasizes select-service properties, which typically offer essential lodging amenities while operating with a more streamlined cost structure than full-service hotels.

Summit Hotel Properties was founded in 2003 and became a publicly traded company in 2011.