Summit Hotel Properties, Inc. (NYSE:INN) Given Consensus Recommendation of “Hold” by Brokerages

Summit Hotel Properties, Inc. (NYSE:INN) has earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $5.40.

A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Raymond James Financial restated an “outperform” rating and issued a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th. Finally, Zacks Research upgraded Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Jennison Associates LLC lifted its holdings in shares of Summit Hotel Properties by 2.0% in the 1st quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust’s stock worth $31,301,000 after acquiring an additional 140,495 shares during the last quarter. UBS Group AG raised its position in Summit Hotel Properties by 18.9% in the 3rd quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock worth $38,079,000 after purchasing an additional 1,102,102 shares during the period. State Street Corp raised its position in Summit Hotel Properties by 1.2% in the 4th quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust’s stock worth $23,917,000 after purchasing an additional 56,090 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Summit Hotel Properties by 12.4% in 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 purchasing an additional 279,823 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Summit Hotel Properties during the first quarter valued at about $8,624,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Up 0.1%

NYSE INN traded up $0.01 on Tuesday, hitting $6.55. 228,413 shares of the company were exchanged, compared to its average volume of 1,379,748. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.16. The company has a market cap of $710.30 million, a PE ratio of -22.57 and a beta of 1.26. The stock has a fifty day moving average of $5.93 and a 200-day moving average of $5.05. Summit Hotel Properties has a 12 month low of $3.97 and a 12 month high of $7.14.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.03%. The company had revenue of $185.05 million for the quarter, compared to analysts’ expectations of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. As a group, analysts forecast that Summit Hotel Properties will post 0.74 earnings per share for the current year.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a $0.08 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 4.9%. Summit Hotel Properties’s payout ratio is presently -110.34%.

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.