Summit Hotel Properties, Inc. (NYSE:INN) Sees Large Decline in Short Interest

Summit Hotel Properties, Inc. (NYSE:INN) was the recipient of a large decrease in short interest in April. As of April 30th, there was short interest totaling 1,920,764 shares, a decrease of 35.1% from the April 15th total of 2,958,547 shares. Based on an average daily volume of 895,039 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Summit Hotel Properties by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock valued at $337,000 after purchasing an additional 2,528 shares during the last quarter. Jane Street Group LLC raised its position in Summit Hotel Properties by 1.7% during the 1st quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock valued at $896,000 after purchasing an additional 2,793 shares during the last quarter. Amundi raised its position in Summit Hotel Properties by 19.9% during the 3rd quarter. Amundi now owns 18,320 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 3,040 shares during the last quarter. Resona Asset Management Co. Ltd. raised its position in Summit Hotel Properties by 7.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 48,128 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 3,261 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in Summit Hotel Properties by 22.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 3,527 shares during the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Trading Up 4.1%

Shares of NYSE INN traded up $0.22 during midday trading on Monday, reaching $5.46. The company had a trading volume of 911,581 shares, compared to its average volume of 1,157,942. Summit Hotel Properties has a one year low of $3.97 and a one year high of $6.00. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.16. The firm’s fifty day moving average price is $4.66 and its 200-day moving average price is $4.80. The stock has a market cap of $591.10 million, a PE ratio of -18.81 and a beta of 1.25.

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

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $0.08 dividend. 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 payout ratio is -110.34%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INN shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Friday, March 27th. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $5.00.

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.