Summit Hotel Properties (NYSE:INN) Given "Sell (D+)" Rating at Weiss Ratings

Key Points

• Summit Hotel Properties has received a "sell (D+)" rating from Weiss Ratings, with other brokerages also providing mixed ratings, leading to a consensus target price of $5.13.
• Shares of Summit Hotel Properties traded down to $5.34 with a market cap of approximately $580.50 million and an average trading volume well below its typical levels.
• The company reported quarterly earnings surpassing expectations, with earnings per share of $0.27, although revenue fell short of analyst expectations.

Summit Hotel Properties (NYSE:INN - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by investment analysts at Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

Several other brokerages also recently issued reports on INN. 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 research note on Monday, July 21st. Robert W. Baird cut 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 research note on Friday, October 3rd. Zacks Research cut shares of Summit Hotel Properties from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of Summit Hotel Properties from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $5.13.

Summit Hotel Properties Price Performance

Shares of NYSE INN traded down $0.07 during trading on Tuesday, hitting $5.34. The company had a trading volume of 276,947 shares, compared to its average volume of 1,175,094. The company has a market cap of $580.50 million, a P/E ratio of -59.39 and a beta of 1.70. Summit Hotel Properties has a 52 week low of $3.57 and a 52 week high of $6.99. The business's 50-day moving average is $5.49 and its 200 day moving average is $4.96. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80.

Summit Hotel Properties (NYSE:INN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.27 earnings per share (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 company had revenue of $192.92 million for the quarter, compared to analysts' expectations of $194.49 million. Summit Hotel Properties has set its FY 2025 guidance at 0.900-0.900 EPS. Equities research analysts predict that Summit Hotel Properties will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Summit Hotel Properties

Hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System increased its position in Summit Hotel Properties by 11.2% during the first quarter. New York State Teachers Retirement System now owns 152,246 shares of the real estate investment trust's stock worth $824,000 after buying an additional 15,334 shares during the last quarter. Principal Financial Group Inc. increased its position in Summit Hotel Properties by 2.7% during the first quarter. Principal Financial Group Inc. now owns 539,713 shares of the real estate investment trust's stock worth $2,920,000 after buying an additional 14,115 shares during the last quarter. GAMMA Investing LLC increased its position in Summit Hotel Properties by 453.0% during the first quarter. GAMMA Investing LLC now owns 8,218 shares of the real estate investment trust's stock worth $44,000 after buying an additional 6,732 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Summit Hotel Properties by 16.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,848,480 shares of the real estate investment trust's stock worth $10,000,000 after buying an additional 257,720 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Summit Hotel Properties during the first quarter worth $1,232,000. 96.47% of the stock is owned by institutional investors and hedge funds.

About Summit Hotel Properties

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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