Summit Hotel Properties (NYSE:INN) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Summit Hotel Properties shares crossed above their 200-day moving average, reaching $6.08 and last trading near $6.04, compared with the 200-day average of $5.82.
• Analysts have a consensus “Hold” rating on the stock and an average price target of $5.40, below its recent trading price. The company reported quarterly EPS of $0.04, beating estimates of a $0.01 loss.
• Summit declared a quarterly dividend of $0.08 per share, or $0.32 annualized, representing a 5.3% yield; institutional investors own approximately 96.47% of the company.

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $5.82 and traded as high as $6.08. Summit Hotel Properties shares last traded at $6.0440, with a volume of 2,176,138 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on INN shares. Weiss Ratings upgraded shares of Summit Hotel Properties from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Zacks Research cut Summit Hotel Properties from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Summit Hotel Properties presently has a consensus rating of "Hold" and an average target price of $5.40.

Summit Hotel Properties Price Performance

The firm has a market cap of $651.85 million, a P/E ratio of -26.28 and a beta of 1.29. The stock's 50-day moving average is $6.00 and its 200-day moving average is $5.82. 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 issued 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. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. 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. As a group, equities analysts anticipate that Summit Hotel Properties, Inc. will post 0.76 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a yield of 5.3%. Summit Hotel Properties's dividend payout ratio (DPR) is -139.13%.

Institutional Trading of Summit Hotel Properties

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

Summit Hotel Properties Company Profile

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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