Summit Hotel Properties (NYSE:INN) Stock Price Up 4.6% - What's Next?

Key Points

• Summit Hotel Properties shares rose 4.6% to approximately $6.72, although trading volume was 79% below the average daily level.
• Analyst sentiment remains cautious: the stock carries an average “Hold” rating, with an average price target of $5.40, below its current price. Weiss Ratings recently downgraded the shares to “Sell,” while Zacks moved its rating to “Hold.”
• The REIT reported quarterly EPS of $0.04, exceeding estimates of a $0.01 loss, and pays a quarterly dividend of $0.08 per share, representing a 4.9% yield. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report)'s stock price shot up 4.6% on Friday. The company traded as high as $6.75 and last traded at $6.7150. 260,195 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,243,463 shares. The stock had previously closed at $6.42.

Analysts Set New Price Targets

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

Summit Hotel Properties Stock Up 2.7%

The business's 50 day moving average is $5.94 and its 200-day moving average is $5.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $711.29 million, a price-to-earnings ratio of -28.63 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping 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 analyst estimates of $198.41 million. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. Equities analysts anticipate that Summit Hotel Properties, Inc. will post 0.77 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed 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. This represents a $0.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, August 17th. Summit Hotel Properties's payout ratio is currently -139.13%.

Institutional Trading of Summit Hotel Properties

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Summit Hotel Properties in the 2nd quarter valued at approximately $66,080,000. Jennison Associates LLC lifted its holdings in shares of Summit Hotel Properties by 2.0% during the first quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust's stock worth $31,301,000 after buying an additional 140,495 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Hotel Properties during the first quarter worth approximately $8,624,000. Bank of New York Mellon Corp bought a new stake in shares of Summit Hotel Properties in the second quarter valued at approximately $4,316,000. Finally, Algert Global LLC bought a new stake in shares of Summit Hotel Properties in the second quarter valued at approximately $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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