Summit Hotel Properties (NYSE:INN) Cut to "Sell" at Wall Street Zen

Key Points

• Summit Hotel Properties has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a shift in analysts' outlook on the stock.
• The company's average stock rating is currently "Reduce", with a price target of $5.13, indicating a bearish sentiment among analysts.
• Institutional investors hold a significant stake in Summit Hotel Properties, with 96.47% of the company's stock owned by such entities, highlighting strong confidence in the company's fundamentals.

Summit Hotel Properties (NYSE:INN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Several other equities analysts also recently commented on INN. Zacks Research downgraded Summit Hotel Properties from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 3rd. Bank of America boosted their target price on shares of Summit Hotel Properties from $5.00 to $5.75 and gave the company a "neutral" rating in a report on Monday, July 21st. Robert W. Baird lowered their target price on shares of Summit Hotel Properties from $5.00 to $4.50 and set a "neutral" rating on the stock in a report on Friday, October 3rd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Summit Hotel Properties in a report on Tuesday. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $5.13.

Summit Hotel Properties Price Performance

Summit Hotel Properties stock opened at $5.34 on Friday. Summit Hotel Properties has a 12 month low of $3.57 and a 12 month high of $6.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The business's 50 day simple moving average is $5.51 and its 200 day simple moving average is $4.96. The company has a market cap of $581.37 million, a price-to-earnings ratio of -59.37 and a beta of 1.70.

Summit Hotel Properties (NYSE:INN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. Summit Hotel Properties had a return on equity of 0.56% and a net margin of 1.00%.The business had revenue of $192.92 million for the quarter, compared to the consensus estimate of $194.49 million. Summit Hotel Properties has set its FY 2025 guidance at 0.900-0.900 EPS. Sell-side analysts forecast that Summit Hotel Properties will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INN. Long Pond Capital LP bought a new position in shares of Summit Hotel Properties in the second quarter worth $47,846,000. Nuveen LLC bought a new position in shares of Summit Hotel Properties in the first quarter worth $16,641,000. Strs Ohio increased its holdings in shares of Summit Hotel Properties by 3,028.7% in the second quarter. Strs Ohio now owns 588,200 shares of the real estate investment trust's stock worth $2,994,000 after purchasing an additional 569,400 shares during the period. Invesco Ltd. increased its holdings in shares of Summit Hotel Properties by 75.0% in the first quarter. Invesco Ltd. now owns 784,585 shares of the real estate investment trust's stock worth $4,245,000 after purchasing an additional 336,150 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Summit Hotel Properties in the first quarter worth $1,541,000. Institutional investors own 96.47% of the company's stock.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company's portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.

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