Summit Hotel Properties, Inc. (NYSE:INN) Short Interest Down 50.0% in March

Key Points

• Short interest fell 50.0% in March to 3,329,532 shares (about 3.2% of shares), leaving a days-to-cover ratio of roughly 1.2 days.
• The company missed quarterly EPS (‑$0.06 vs. $0.18 est.) despite a slight revenue beat, set FY2026 guidance of $0.73–$0.85, and currently has a MarketBeat consensus rating of "Reduce" with a $5.00 target.
• Shares trade near $4.76 with a market cap of $517M and a negative P/E, while the REIT pays a $0.08 quarterly dividend (a 6.7% yield)—but a payout ratio of ‑139% signals the dividend may be unsustainable.

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 3,329,532 shares, a drop of 50.0% from the March 15th total of 6,653,745 shares. Based on an average trading volume of 2,851,631 shares, the days-to-cover ratio is presently 1.2 days. Currently, 3.2% of the company's shares are short sold.

Institutional Investors Weigh In On Summit Hotel Properties

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Summit Hotel Properties by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust's stock valued at $337,000 after acquiring an additional 2,528 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Summit Hotel Properties by 1.7% during the first quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust's stock valued at $896,000 after acquiring an additional 2,793 shares in the last quarter. Amundi increased its holdings in shares of Summit Hotel Properties by 19.9% during the third quarter. Amundi now owns 18,320 shares of the real estate investment trust's stock valued at $100,000 after acquiring an additional 3,040 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Summit Hotel Properties by 22.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust's stock valued at $92,000 after acquiring an additional 3,527 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Summit Hotel Properties by 53.6% during the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 3,773 shares in the last quarter. Institutional investors own 96.47% of the company's stock.

Summit Hotel Properties Trading Up 0.3%

INN stock traded up $0.02 during mid-day trading on Monday, reaching $4.76. The company's stock had a trading volume of 435,064 shares, compared to its average volume of 2,028,233. The company has a market cap of $517.34 million, a price-to-earnings ratio of -20.67 and a beta of 1.23. The business's 50 day moving average price is $4.41 and its 200 day moving average price is $4.86. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.14. Summit Hotel Properties has a 12 month low of $3.72 and a 12 month high of $6.00.

Summit Hotel Properties (NYSE:INN - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.24). The firm had revenue of $174.96 million for the quarter, compared to the consensus estimate of $172.88 million. Summit Hotel Properties had a negative net margin of 0.87% and a negative return on equity of 0.50%. Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. On average, equities research analysts predict that Summit Hotel Properties will post 0.88 EPS for the current year.

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 6.7%. Summit Hotel Properties's payout ratio is currently -139.13%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Summit Hotel Properties from a "strong sell" rating to a "hold" rating in a report on Monday, March 16th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Summit Hotel Properties in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $6.00 target price on Summit Hotel Properties and gave the stock a "buy" rating in a report on Tuesday, January 13th. Robert W. Baird set a $5.00 target price on Summit Hotel Properties in a report on Wednesday, December 17th. Finally, Wall Street Zen upgraded Summit Hotel Properties from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Summit Hotel Properties presently has a consensus rating of "Reduce" and a consensus target price of $5.00.

About Summit Hotel Properties

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company's portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.