Zacks Research Upgrades Summit Hotel Properties (NYSE:INN) to “Hold”

Summit Hotel Properties (NYSE:INN) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Tuesday, October 14th. Bank of America increased their target price on Summit Hotel Properties from $5.00 to $5.75 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Robert W. Baird lowered their target price on Summit Hotel Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Finally, Wall Street Zen lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Summit Hotel Properties has a consensus rating of “Reduce” and an average price target of $5.13.

Summit Hotel Properties Price Performance

Shares of NYSE INN opened at $5.45 on Tuesday. The business’s 50 day moving average price is $5.51 and its two-hundred day moving average price is $4.97. The company has a market cap of $592.47 million, a PE ratio of -60.50 and a beta of 1.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. Summit Hotel Properties has a twelve month low of $3.57 and a twelve month high of $6.99.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $192.92 million for the quarter, compared to the consensus estimate of $194.49 million. Summit Hotel Properties had a return on equity of 0.56% and a net margin of 1.00%. Summit Hotel Properties has set its FY 2025 guidance at 0.900-0.900 EPS. On average, analysts predict that Summit Hotel Properties will post 0.88 EPS for the current year.

Institutional Investors Weigh In On Summit Hotel Properties

A number of large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC acquired a new stake in Summit Hotel Properties during the second quarter worth approximately $86,000. Public Sector Pension Investment Board grew its position in Summit Hotel Properties by 8.4% during the second quarter. Public Sector Pension Investment Board now owns 372,587 shares of the real estate investment trust’s stock worth $1,896,000 after buying an additional 28,777 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Summit Hotel Properties by 4.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 244,889 shares of the real estate investment trust’s stock worth $1,246,000 after buying an additional 10,108 shares in the last quarter. Tower Research Capital LLC TRC grew its position 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 in the last quarter. Finally, Man Group plc grew its position in Summit Hotel Properties by 6.6% during the second quarter. Man Group plc now owns 458,749 shares of the real estate investment trust’s stock worth $2,335,000 after buying an additional 28,207 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company’s portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.