Summit Hotel Properties, Inc. (NYSE:INN) Stock Has Average Target Price of $5.40

Key Points

• Analysts have a “Hold” consensus on Summit Hotel Properties, with two sell, one hold and two buy ratings. The average 12-month price target is $5.40, below the reported share price of $6.18.
• Institutional investors and hedge funds own 96.47% of the company, with several major investors—including Bank of New York Mellon, Arrowstreet Capital and Algert Global—recently establishing or increasing positions.
• Summit reported quarterly earnings of $0.04 per share, beating the consensus estimate of a $0.01 loss, and generated $199.02 million in revenue. It also declared a quarterly dividend of $0.08, representing a 5.2% annualized yield.

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) has earned a consensus recommendation of "Hold" from the five analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.40.

Several analysts recently commented on the company. Zacks Research cut Summit Hotel Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Weiss Ratings downgraded Summit Hotel Properties from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of Summit Hotel Properties during the 2nd quarter worth about $4,316,000. Y Intercept Hong Kong Ltd lifted its stake in shares of Summit Hotel Properties by 717.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 268,530 shares of the real estate investment trust's stock worth $1,187,000 after acquiring an additional 235,699 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Summit Hotel Properties in the 1st quarter worth approximately $8,624,000. Public Employees Retirement System of Ohio bought a new position in shares of Summit Hotel Properties in the second quarter valued at approximately $1,633,000. Finally, Algert Global LLC bought a new position in shares of Summit Hotel Properties in the second quarter valued at approximately $3,856,000. 96.47% of the stock is owned by institutional investors and hedge funds.

Summit Hotel Properties Price Performance

Shares of NYSE:INN opened at $6.18 on Thursday. The firm's 50 day moving average is $5.94 and its two-hundred day moving average is $5.87. Summit Hotel Properties has a 52 week low of $3.97 and a 52 week high of $7.17. The firm has a market capitalization of $666.94 million, a P/E ratio of -26.89 and a beta of 1.29. 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 (NYSE:INN - Get Free Report) last released its quarterly 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 company had revenue of $199.02 million for the quarter, compared to analysts' expectations 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. Analysts anticipate that Summit Hotel Properties will post 0.77 earnings per share for the current year.

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.32 annualized dividend and a dividend yield of 5.2%. Summit Hotel Properties's dividend payout ratio is presently -139.13%.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a real estate investment trust focused on owning premium-branded, select-service hotels in the United States. Its properties are generally located in business, leisure and transportation-oriented markets and operate under nationally recognized hotel brands.

The company's hotel portfolio has included properties affiliated with brands such as Marriott, Hilton, Hyatt and InterContinental Hotels Group. These hotels typically provide guest accommodations along with services and amenities such as breakfast, meeting space, fitness facilities and other offerings designed for business and leisure travelers.

Summit Hotel Properties was founded in 2003 and became a publicly traded company in 2011.

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