Summit Hotel Properties (NYSE:INN) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Summit Hotel Properties shares crossed above their 200-day moving average, reaching $5.85 and last trading at $5.8050 versus the $5.72 average.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $5.40, despite Raymond James maintaining an “Outperform” rating with a $7.00 target.
• The REIT reported quarterly EPS of $0.04, beating estimates, and pays an annualized $0.32 dividend yielding approximately 5.5%; institutional investors own 96.47% of the shares.

Shares of Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $5.72 and traded as high as $5.85. Summit Hotel Properties shares last traded at $5.8050, with a volume of 960,632 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Summit Hotel Properties from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Raymond James Financial reaffirmed an "outperform" rating and issued a $7.00 price target on shares of Summit Hotel Properties in a report on Monday, June 8th. Finally, Weiss Ratings upgraded Summit Hotel Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.40.

Summit Hotel Properties Stock Performance

The firm's fifty day simple moving average is $6.15 and its 200 day simple moving average is $5.72. The company has a market capitalization of $626.07 million, a price-to-earnings ratio of -25.24 and a beta of 1.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $199.02 million for 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. On average, sell-side analysts forecast that Summit Hotel Properties, Inc. will post 0.76 EPS 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 issued a dividend of $0.08 per share. The ex-dividend date was Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.5%. Summit Hotel Properties's payout ratio is currently -139.13%.

Institutional Investors Weigh In On Summit Hotel Properties

Institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in shares of Summit Hotel Properties in the 2nd quarter valued at about $39,000. SummitTX Capital L.P. purchased a new stake in shares of Summit Hotel Properties in the first quarter worth approximately $57,000. Renaissance Technologies LLC acquired a new stake in shares of Summit Hotel Properties during the first quarter worth approximately $69,000. Legal & General Group Plc acquired a new stake in shares of Summit Hotel Properties during the second quarter worth approximately $71,000. Finally, Pallas Capital Advisors LLC purchased a new position in Summit Hotel Properties during the second quarter valued at approximately $86,000. 96.47% of the stock is currently owned by institutional investors and hedge funds.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a self-managed real estate investment trust (REIT) focused on owning premium-branded hotels in the upscale and upper-midscale segments. The company's properties primarily operate under recognized hospitality brands, including those affiliated with Marriott International, Hilton, Hyatt Hotels and InterContinental Hotels Group.

Summit's hotel portfolio is concentrated in the United States, with an emphasis on markets supported by business, leisure and other diverse sources of lodging demand.

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