Summit Hotel Properties (NYSE:INN) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Summit Hotel Properties from “strong buy” to “hold.” MarketBeat’s analyst consensus is also “hold,” with an average price target of $5.40.
• INN shares opened at $6.20, with a 52-week range of $3.97 to $7.17 and a market capitalization of approximately $668 million.
• The REIT beat quarterly earnings expectations, reporting $0.04 per share versus the projected loss of $0.01, while institutional investors own a substantial 96.47% of outstanding shares.

Summit Hotel Properties (NYSE:INN - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Weiss Ratings raised shares of Summit Hotel Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $5.40.

Summit Hotel Properties Price Performance

NYSE:INN opened at $6.20 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.15. The business's 50-day simple moving average is $6.59 and its two-hundred day simple moving average is $5.50. The stock has a market cap of $668.13 million, a PE ratio of -26.93 and a beta of 1.26. Summit Hotel Properties has a 52 week low of $3.97 and a 52 week high of $7.17.

Summit Hotel Properties (NYSE:INN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.05. The firm had revenue of $199.02 million during the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%.Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, analysts forecast that Summit Hotel Properties will post 0.76 EPS for the current fiscal year.

Institutional Trading of Summit Hotel Properties

A number of hedge funds and other institutional investors have recently modified their holdings of INN. Y Intercept Hong Kong Ltd increased its position in Summit Hotel Properties by 717.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 268,530 shares of the real estate investment trust's stock worth $1,187,000 after buying an additional 235,699 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Summit Hotel Properties during the first quarter worth about $8,624,000. Globeflex Capital L P acquired a new stake in Summit Hotel Properties in the 2nd quarter worth about $3,418,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Summit Hotel Properties in the 2nd quarter worth about $590,000. Finally, Jennison Associates LLC grew its holdings in 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 valued at $31,301,000 after buying an additional 140,495 shares during the period. 96.47% of the stock is owned by institutional investors and hedge funds.

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.

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