550,086 Shares in Summit Hotel Properties, Inc. $INN Acquired by Algert Global LLC

Key Points

• Algert Global LLC acquired 550,086 shares of Summit Hotel Properties in the second quarter, worth approximately $3.86 million and representing a 0.51% stake. Other institutional investors also initiated positions, with institutions and hedge funds owning 96.47% of the stock.
• Summit Hotel Properties reported quarterly EPS of $0.04, beating analyst expectations of a $0.01 loss, while revenue of $199.02 million slightly exceeded estimates. The company issued full-year 2026 EPS guidance of $0.79–$0.85.
• The REIT declared a quarterly dividend of $0.08, equivalent to $0.32 annually and a 5.4% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $5.40.

Algert Global LLC purchased a new position in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 550,086 shares of the real estate investment trust's stock, valued at approximately $3,856,000. Algert Global LLC owned 0.51% of Summit Hotel Properties as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Summit Hotel Properties in the second quarter valued at $699,000. PEAK6 LLC purchased a new stake in Summit Hotel Properties during the 2nd quarter worth $133,000. Globeflex Capital L P acquired a new position in Summit Hotel Properties in the 2nd quarter worth $3,418,000. Quantbot Technologies LP purchased a new position in Summit Hotel Properties in the 2nd quarter valued at about $128,000. Finally, Ieq Capital LLC purchased a new position in Summit Hotel Properties in the 2nd quarter valued at about $863,000. Institutional investors and hedge funds own 96.47% of the company's stock.

Summit Hotel Properties Stock Performance

Shares of INN stock opened at $5.91 on Friday. 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 has a 50 day moving average of $6.57 and a two-hundred day moving average of $5.52. Summit Hotel Properties, Inc. has a 52 week low of $3.97 and a 52 week high of $7.17. The company has a market cap of $637.84 million, a P/E ratio of -25.71 and a beta of 1.26.

Summit Hotel Properties (NYSE:INN - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share (EPS) 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 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 anticipate that Summit Hotel Properties, Inc. will post 0.76 EPS for the current year.

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, August 17th. Summit Hotel Properties's dividend payout ratio (DPR) is -139.13%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings upgraded 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 set a $7.00 price target on shares of Summit Hotel Properties in a research report on Monday, June 8th. Finally, Zacks Research downgraded Summit Hotel Properties from a "strong-buy" rating to a "hold" rating in a research note on Monday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $5.40.

About Summit Hotel Properties

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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