Summit Hotel Properties (NYSE:INN) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Summit Hotel Properties, Inc. (NYSE:INN) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.83 and traded as high as $4.86. Summit Hotel Properties shares last traded at $4.8550, with a volume of 799,181 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $6.00 target price on shares of Summit Hotel Properties and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Wall Street Zen upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Zacks Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research report 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $5.00.

Summit Hotel Properties Trading Down 1.6%

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.14. The company has a fifty day moving average of $4.44 and a two-hundred day moving average of $4.83. The stock has a market capitalization of $511.58 million, a price-to-earnings ratio of -20.44 and a beta of 1.23.

Summit Hotel Properties (NYSE:INN) last issued its quarterly 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). Summit Hotel Properties had a negative return on equity of 0.50% and a negative net margin of 0.87%.The company had revenue of $174.96 million for the quarter, compared to analyst estimates of $172.88 million. Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. On average, research analysts expect that Summit Hotel Properties, Inc. will post 0.73 EPS for the current year.

Summit Hotel Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 6.8%. Summit Hotel Properties’s dividend payout ratio (DPR) is currently -139.13%.

Institutional Investors Weigh In On Summit Hotel Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of INN. Amundi lifted its holdings in Summit Hotel Properties by 3.4% in the first quarter. Amundi now owns 109,185 shares of the real estate investment trust’s stock valued at $591,000 after acquiring an additional 3,623 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Summit Hotel Properties by 4.2% in the first 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 acquiring an additional 2,528 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Summit Hotel Properties by 1.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 721,875 shares of the real estate investment trust’s stock valued at $3,905,000 after acquiring an additional 9,879 shares during the period. Jane Street Group LLC lifted its holdings in Summit Hotel Properties by 1.7% in the first quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock valued at $896,000 after acquiring an additional 2,793 shares during the period. Finally, Strs Ohio acquired a new stake in Summit Hotel Properties in the first quarter valued at $102,000. 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.