Summit Hotel Properties, Inc. (NYSE:INN) Short Interest Down 50.0% in March

Summit Hotel Properties, Inc. (NYSE:INN) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 3,329,532 shares, a decline of 50.0% from the March 15th total of 6,653,745 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 2,851,631 shares, the short-interest ratio is currently 1.2 days.

Summit Hotel Properties Stock Performance

INN stock traded up $0.02 during midday trading on Monday, hitting $4.76. The company’s stock had a trading volume of 435,064 shares, compared to its average volume of 2,028,233. The stock’s 50-day moving average price is $4.41 and its 200 day moving average price is $4.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.14. Summit Hotel Properties has a 1 year low of $3.72 and a 1 year high of $6.00. The stock has a market cap of $517.34 million, a price-to-earnings ratio of -20.67 and a beta of 1.23.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data 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). Summit Hotel Properties had a negative return on equity of 0.50% and a negative net margin of 0.87%.The business had revenue of $174.96 million during the quarter, compared to analysts’ expectations of $172.88 million. Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. On average, equities analysts forecast that Summit Hotel Properties will post 0.88 EPS for the current year.

Summit Hotel Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 annualized dividend and a yield of 6.7%. Summit Hotel Properties’s payout ratio is currently -139.13%.

Wall Street Analyst Weigh In

INN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft set a $6.00 target price on Summit Hotel Properties and gave the company a “buy” rating in a research report on Tuesday, January 13th. Robert W. Baird set a $5.00 target price on Summit Hotel Properties in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Friday, March 27th. Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Finally, Wall Street Zen raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $5.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INN. UBS Group AG boosted its position in Summit Hotel Properties by 18.9% in 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 purchasing an additional 1,102,102 shares during the last quarter. Invesco Ltd. boosted its position in Summit Hotel Properties by 87.2% in the fourth quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock worth $3,772,000 after purchasing an additional 360,800 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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. Jane Street Group LLC boosted its position in Summit Hotel Properties by 275.3% in the fourth quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock worth $1,715,000 after purchasing an additional 258,261 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Summit Hotel Properties in the fourth quarter worth $1,205,000. Hedge funds and other institutional investors own 96.47% of the company’s stock.

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.