Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) has been given an average rating of "Moderate Buy" by the six brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $5.40.
Several analysts recently commented on INN shares. Zacks Research raised Summit Hotel Properties from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Weiss Ratings raised Summit Hotel Properties from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $7.00 target price on shares of Summit Hotel Properties in a research report on Monday, June 8th.
View Our Latest Research Report on INN
Institutional Trading of Summit Hotel Properties
Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Summit Hotel Properties in the third quarter worth approximately $35,000. Corient Private Wealth LLC purchased a new stake in shares of Summit Hotel Properties in the 4th quarter worth $52,000. CIBC Asset Management Inc bought a new position in Summit Hotel Properties in the 4th quarter worth $52,000. BNP Paribas Financial Markets lifted its position in Summit Hotel Properties by 53.6% during the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 3,773 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Summit Hotel Properties by 148.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 6,442 shares during the period. 96.47% of the stock is currently owned by institutional investors.
Summit Hotel Properties Trading Up 0.9%
Shares of INN stock opened at $6.20 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Summit Hotel Properties has a 12-month low of $3.97 and a 12-month high of $7.17. The stock has a market capitalization of $668.13 million, a P/E ratio of -26.93 and a beta of 1.26. The firm's 50 day moving average is $6.59 and its 200 day moving average is $5.50.
Summit Hotel Properties (NYSE:INN - Get Free Report) last announced its earnings results 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 business had revenue of $199.02 million during the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. Research analysts expect that Summit Hotel Properties will post 0.76 earnings per share for the current year.
Summit Hotel Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Monday, August 17th. Summit Hotel Properties's dividend payout ratio is -139.13%.
About Summit Hotel Properties
(
Get Free Report)
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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