Y Intercept Hong Kong Ltd Purchases 235,699 Shares of Summit Hotel Properties, Inc. $INN

Key Points

• Y Intercept Hong Kong Ltd boosted its stake in Summit Hotel Properties by 717.9% in the first quarter, buying 235,699 additional shares and bringing its total to 268,530 shares worth about $1.19 million.
• Summit Hotel Properties reported quarterly earnings of ($0.10) per share, beating estimates, and revenue of $185.05 million, above analyst expectations. The company also guided FY 2026 EPS to 0.75-0.85.
• The REIT paid a quarterly dividend of $0.08 per share, or $0.32 annualized, implying a 5.0% yield. Shares were trading near $6.46, and Wall Street currently has a consensus Hold rating with a $5.40 average price target.

Y Intercept Hong Kong Ltd raised its position in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 717.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,530 shares of the real estate investment trust's stock after buying an additional 235,699 shares during the period. Y Intercept Hong Kong Ltd owned 0.25% of Summit Hotel Properties worth $1,187,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Summit Hotel Properties in the third quarter valued at approximately $35,000. CIBC Asset Management Inc bought a new stake in Summit Hotel Properties during the 4th quarter worth approximately $52,000. Corient Private Wealth LLC acquired a new stake in Summit Hotel Properties during the 4th quarter valued at $52,000. BNP Paribas Financial Markets increased its holdings in Summit Hotel Properties by 53.6% during the 2nd 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 raised its position in Summit Hotel Properties by 148.1% in the 2nd 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 last quarter. 96.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INN has been the topic of several research analyst reports. Zacks Research upgraded Summit Hotel Properties from a "strong sell" rating to a "hold" rating in a report on Monday, March 16th. Weiss Ratings raised Summit Hotel Properties from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, May 29th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $7.00 price target 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, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $5.40.

Summit Hotel Properties Trading Down 0.4%

Shares of NYSE INN traded down $0.03 during midday trading on Friday, hitting $6.46. The stock had a trading volume of 490,130 shares, compared to its average volume of 1,929,107. The firm has a market cap of $699.46 million, a P/E ratio of -22.26 and a beta of 1.26. Summit Hotel Properties, Inc. has a fifty-two week low of $3.97 and a fifty-two week high of $7.14. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. The company's 50-day simple moving average is $6.05 and its 200 day simple moving average is $5.09.

Summit Hotel Properties (NYSE:INN - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $185.05 million for the quarter, compared to analysts' expectations of $180.51 million. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Research analysts anticipate that Summit Hotel Properties, Inc. will post 0.74 EPS for the current year.

Summit Hotel Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, May 15th. Summit Hotel Properties's dividend payout ratio (DPR) is -110.34%.

Summit Hotel Properties 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.