Summit Hotel Properties, Inc. (NYSE:INN) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Summit Hotel Properties has a consensus “Hold” rating from six analysts, with three holds, two buys and one sell. The average 12-month price target is $5.40.
• Institutional ownership is high at 96.47%, with BlackRock, Arrowstreet Capital and Bank of New York Mellon among investors that recently acquired stakes.
• Shares opened at $5.59 after declining 2.2%; the company recently reported quarterly EPS of $0.04, above estimates, and pays a quarterly dividend of $0.08 per share, yielding approximately 5.7%.

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) has been given a consensus recommendation of "Hold" by the six ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.40.

Several brokerages have recently commented on INN. Weiss Ratings upgraded Summit Hotel Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Zacks Research downgraded Summit Hotel Properties from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Summit Hotel Properties during the second quarter worth approximately $66,080,000. Jennison Associates LLC grew its position in shares of Summit Hotel Properties by 2.0% in the first quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust's stock valued at $31,301,000 after purchasing an additional 140,495 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Hotel Properties in the first quarter valued at approximately $8,624,000. Bank of New York Mellon Corp bought a new position in shares of Summit Hotel Properties during the second quarter worth approximately $4,316,000. Finally, Algert Global LLC acquired a new stake in Summit Hotel Properties during the 2nd quarter worth approximately $3,856,000. Institutional investors and hedge funds own 96.47% of the company's stock.

Summit Hotel Properties Trading Down 2.2%

Shares of NYSE:INN opened at $5.59 on Friday. Summit Hotel Properties has a 52-week low of $3.97 and a 52-week high of $7.17. The company has a market capitalization of $603.42 million, a P/E ratio of -24.33 and a beta of 1.24. The company has a 50-day simple moving average of $6.26 and a 200 day simple moving average of $5.66. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 0.71.

Summit Hotel Properties (NYSE:INN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The firm had revenue of $199.02 million for the quarter, compared to the consensus estimate 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. Sell-side analysts forecast that Summit Hotel Properties will post 0.76 earnings per share for the current year.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, August 17th. Summit Hotel Properties's dividend payout ratio (DPR) is currently -139.13%.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a self-managed real estate investment trust (REIT) focused on owning premium-branded hotels in the upscale and upper-midscale segments. The company's properties primarily operate under recognized hospitality brands, including those affiliated with Marriott International, Hilton, Hyatt Hotels and InterContinental Hotels Group.

Summit's hotel portfolio is concentrated in the United States, with an emphasis on markets supported by business, leisure and other diverse sources of lodging demand.

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