Summit Hotel Properties (NYSE:INN) Reaches New 12-Month High - What's Next?

Key Points

• Summit Hotel Properties shares reached a new 52-week high of $7.58, rising 8% from the previous close of $7.02.
• Analyst views remain mixed: the consensus rating is “Hold” with a $5.40 target price, although Zacks Research upgraded the stock to “Strong Buy” and Raymond James maintained an “Outperform” rating.
• The REIT exceeded quarterly expectations, reporting adjusted EPS of negative $0.10 versus estimates of negative $0.12 and revenue of $185.05 million versus $180.51 million expected; institutional investors own 96.47% of its shares.

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $7.58 and last traded at $7.58, with a volume of 1200 shares traded. The stock had previously closed at $7.02.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings upgraded Summit Hotel Properties from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, May 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th. Finally, Zacks Research raised Summit Hotel Properties from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $5.40.

Summit Hotel Properties Trading Up 8.0%

The firm has a market capitalization of $821.37 million, a P/E ratio of -26.14 and a beta of 1.26. The business has a 50 day moving average of $6.34 and a 200-day moving average of $5.22. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.16.

Summit Hotel Properties (NYSE:INN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The company had revenue of $185.05 million for the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Analysts anticipate that Summit Hotel Properties, Inc. will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Summit Hotel Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Summit Hotel Properties in the third quarter worth $35,000. Corient Private Wealth LLC bought a new position in Summit Hotel Properties in the fourth quarter valued at about $52,000. CIBC Asset Management Inc purchased a new stake in shares of Summit Hotel Properties during the fourth quarter worth about $52,000. BNP Paribas Financial Markets grew its position 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 purchasing an additional 3,773 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Summit Hotel Properties by 148.1% in the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 6,442 shares in the last quarter. Hedge funds and other institutional investors own 96.47% of the company's stock.

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.

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