Summit Hotel Properties (NYSE:INN) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Summit Hotel Properties shares crossed above their 200-day moving average, reaching $5.79 before closing at $5.735, compared with the $5.64 moving average.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $5.40; Raymond James maintains an “Outperform” rating with a $7 target.
• The REIT reported quarterly EPS of $0.04, exceeding estimates, and paid a quarterly dividend of $0.08 per share, representing a 5.6% annualized yield.

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.64 and traded as high as $5.79. Summit Hotel Properties shares last traded at $5.7350, with a volume of 539,847 shares.

Analyst Ratings Changes

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

Summit Hotel Properties Trading Up 0.3%

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 firm has a market capitalization of $618.52 million, a P/E ratio of -24.93 and a beta of 1.24. The firm has a 50 day moving average of $6.31 and a 200-day moving average of $5.64.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $199.02 million for the quarter, compared to the consensus estimate 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. On average, equities research analysts predict that Summit Hotel Properties, Inc. will post 0.76 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently announced 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. This represents a $0.32 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Monday, August 17th. Summit Hotel Properties's dividend payout ratio is -139.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INN. BlackRock Inc. acquired a new stake in Summit Hotel Properties during the second quarter worth about $66,080,000. Jennison Associates LLC increased its holdings in Summit Hotel Properties by 2.0% in the 1st quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust's stock valued at $31,301,000 after buying an additional 140,495 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Hotel Properties in the 1st quarter valued at approximately $8,624,000. Bank of New York Mellon Corp acquired a new position in shares of Summit Hotel Properties in the 2nd quarter valued at approximately $4,316,000. Finally, Algert Global LLC bought a new stake in shares of Summit Hotel Properties during the 2nd quarter worth approximately $3,856,000. Institutional investors and hedge funds own 96.47% of the company's stock.

About Summit Hotel Properties

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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