Brokerages Set Summit Hotel Properties, Inc. (NYSE:INN) Price Target at $5.00

Summit Hotel Properties, Inc. (NYSE:INN) has been given an average recommendation of “Reduce” by the five analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $5.00.

A number of analysts have weighed in on INN shares. Zacks Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Deutsche Bank Aktiengesellschaft set a $6.00 target price on shares of Summit Hotel Properties and gave the company a “buy” rating in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Friday. Robert W. Baird set a $5.00 price target on shares of Summit Hotel Properties in a research note on Wednesday, December 17th. Finally, Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th.

Summit Hotel Properties Trading Up 0.8%

NYSE:INN opened at $4.40 on Friday. Summit Hotel Properties has a 1 year low of $3.57 and a 1 year high of $6.00. The stock has a market cap of $478.17 million, a P/E ratio of -19.11 and a beta of 1.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50-day simple moving average of $4.43 and a 200-day simple moving average of $4.94.

Summit Hotel Properties (NYSE:INN) last issued its earnings results on Wednesday, February 25th. The real estate investment trust reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.24). The business had revenue of $174.96 million for the quarter, compared to analyst estimates of $172.88 million. Summit Hotel Properties had a negative return on equity of 0.50% and a negative net margin of 0.87%.Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. As a group, analysts anticipate that Summit Hotel Properties will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend was Friday, February 13th. Summit Hotel Properties’s payout ratio is presently -139.13%.

Insider Buying and Selling at Summit Hotel Properties

In related news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $4.84, for a total value of $121,000.00. Following the completion of the sale, the director directly owned 444,295 shares of the company’s stock, valued at $2,150,387.80. This represents a 5.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INN. Long Pond Capital LP purchased a new stake in shares of Summit Hotel Properties in the second quarter valued at about $47,846,000. UBS Group AG boosted its stake in shares of Summit Hotel Properties by 18.9% during the third quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock worth $38,079,000 after buying an additional 1,102,102 shares during the period. Invesco Ltd. grew its holdings in shares of Summit Hotel Properties by 87.2% during the fourth quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock worth $3,772,000 after buying an additional 360,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Summit Hotel Properties by 12.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock worth $12,383,000 after buying an additional 279,823 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Summit Hotel Properties by 275.3% in the 4th quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock valued at $1,715,000 after acquiring an additional 258,261 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Company Profile

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.