Summit Hotel Properties (NYSE:INN) Stock Price Up 4.6% – What’s Next?

Summit Hotel Properties, Inc. (NYSE:INN)’s stock price shot up 4.6% during trading on Friday. The stock traded as high as $6.75 and last traded at $6.7150. Approximately 260,195 shares traded hands during trading, a decline of 79% from the average session volume of 1,243,463 shares. The stock had previously closed at $6.42.

Wall Street Analysts Forecast Growth

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

Summit Hotel Properties Price Performance

The company has a market cap of $711.29 million, a price-to-earnings ratio of -28.63 and a beta of 1.29. 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 fifty day moving average price of $5.94 and a two-hundred day moving average price of $5.89.

Summit Hotel Properties (NYSE:INN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $199.02 million during the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%. 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, Inc. will post 0.77 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a yield of 4.9%. Summit Hotel Properties’s payout ratio is currently -139.13%.

Hedge Funds Weigh In On Summit Hotel Properties

A number of hedge funds have recently made changes to their positions in INN. Sequoia Financial Advisors LLC bought a new position in shares of Summit Hotel Properties during the 2nd quarter worth about $112,000. WINTON GROUP Ltd bought a new stake in Summit Hotel Properties in the second quarter valued at about $432,000. Engineers Gate Manager LP bought a new stake in Summit Hotel Properties in the second quarter valued at about $317,000. Integrated Wealth Concepts LLC bought a new stake in Summit Hotel Properties in the second quarter valued at about $39,000. Finally, Corient Private Wealth LP raised its position in Summit Hotel Properties by 593.6% in the second quarter. Corient Private Wealth LP now owns 94,351 shares of the real estate investment trust’s stock worth $661,000 after purchasing an additional 80,748 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a real estate investment trust focused on owning premium-branded, select-service hotels in the United States. Its properties are generally located in business, leisure and transportation-oriented markets and operate under nationally recognized hotel brands.

The company’s hotel portfolio has included properties affiliated with brands such as Marriott, Hilton, Hyatt and InterContinental Hotels Group. These hotels typically provide guest accommodations along with services and amenities such as breakfast, meeting space, fitness facilities and other offerings designed for business and leisure travelers.

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