Summit Hotel Properties (NYSE:INN) Reaches New 12-Month High - What's Next?

Key Points

• Summit Hotel Properties shares reached a new 52-week high of $7.17 and last traded at $7.145, above the prior close of $7.04.
• Analyst sentiment remains mixed: the consensus rating is “Hold”, with a $5.40 target price, well below the current share price. Ratings include two Buys, one Hold and two Sells.
• The REIT reported quarterly revenue of $199.02 million and EPS of $0.04, beating estimates, and pays a quarterly dividend of $0.08, equivalent to a 4.6% annualized yield.

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) hit a new 52-week high on Thursday. The company traded as high as $7.17 and last traded at $7.1450, with a volume of 99,365 shares trading hands. The stock had previously closed at $7.04.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INN. Zacks Research lowered shares of Summit Hotel Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Weiss Ratings downgraded shares of Summit Hotel Properties from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $5.40.

Summit Hotel Properties Stock Performance

The stock has a market cap of $757.24 million, a PE ratio of -30.52 and a beta of 1.29. The stock has a fifty day moving average of $5.98 and a 200-day moving average of $5.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.15.

Summit Hotel Properties (NYSE:INN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%. The firm had revenue of $199.02 million during the quarter, compared to the consensus estimate of $198.41 million. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. On average, equities analysts forecast that Summit Hotel Properties, Inc. will post 0.77 EPS for the current year.

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, August 17th. Summit Hotel Properties's dividend payout ratio (DPR) is -139.13%.

Hedge Funds Weigh In On Summit Hotel Properties

Large investors have recently bought and sold shares of the company. Resona Asset Management Co. Ltd. lifted its stake in shares of Summit Hotel Properties by 7.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 48,128 shares of the real estate investment trust's stock worth $210,000 after acquiring an additional 3,261 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Summit Hotel Properties during the second quarter worth about $39,000. Hsbc Holdings PLC raised its stake in shares of Summit Hotel Properties by 20.8% during the 2nd quarter. Hsbc Holdings PLC now owns 36,085 shares of the real estate investment trust's stock worth $256,000 after buying an additional 6,212 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Summit Hotel Properties in the 2nd quarter valued at approximately $71,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Summit Hotel Properties in the 2nd quarter valued at approximately $86,000. Hedge funds and other institutional investors own 96.47% of the company's stock.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a real estate investment trust (REIT) focused on owning and investing in premium-branded, select-service hotels in the United States. Its properties generally operate under nationally recognized hotel brands and serve business and leisure travelers.

The company's portfolio has included hotels affiliated with major hospitality brands such as Marriott, Hilton, Hyatt and InterContinental Hotels Group. Summit emphasizes select-service properties, which typically offer essential lodging amenities while operating with a more streamlined cost structure than full-service hotels.

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

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