Summit Hotel Properties (NYSE:INN) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Summit Hotel Properties' stock price has risen above its 200-day moving average, currently trading at $5.57, with a peak of $5.63 during recent trading.
• Analysts have varied opinions on the stock, with one upgrading it to a "hold" rating and another downgrading it to a "strong sell," while the consensus rating is classified as "Reduce."
• The company recently declared a quarterly dividend of $0.08 per share, yielding 5.8%, despite a significant negative dividend payout ratio of -355.56%.

Shares of Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.97 and traded as high as $5.63. Summit Hotel Properties shares last traded at $5.57, with a volume of 672,190 shares.

Analyst Ratings Changes

A number of research firms have recently commented on INN. Wall Street Zen raised shares of Summit Hotel Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. 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, Bank of America increased their target price on shares of Summit Hotel Properties from $5.00 to $5.75 and gave the stock a "neutral" rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $5.75.

Summit Hotel Properties Price Performance

The firm has a market cap of $605.52 million, a price-to-earnings ratio of -61.83 and a beta of 1.72. The business's 50-day simple moving average is $5.47 and its two-hundred day simple moving average is $4.97. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

Summit Hotel Properties (NYSE:INN - Get Free Report) last released its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The business had revenue of $192.92 million during the quarter, compared to the consensus estimate of $194.49 million. Summit Hotel Properties had a net margin of 1.00% and a return on equity of 0.56%. Summit Hotel Properties has set its FY 2025 guidance at 0.900-0.900 EPS. As a group, research analysts expect that Summit Hotel Properties, Inc. will post 0.88 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend was Friday, August 15th. Summit Hotel Properties's dividend payout ratio is currently -355.56%.

Institutional Trading of Summit Hotel Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of Summit Hotel Properties by 453.0% during the 1st 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 in the last quarter. Signaturefd LLC boosted its holdings in shares of Summit Hotel Properties by 36.4% during the 2nd quarter. Signaturefd LLC now owns 8,656 shares of the real estate investment trust's stock worth $44,000 after buying an additional 2,309 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Summit Hotel Properties by 53.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust's stock worth $55,000 after buying an additional 3,773 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Summit Hotel Properties by 148.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust's stock worth $55,000 after buying an additional 6,442 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Summit Hotel Properties by 119.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 11,438 shares of the real estate investment trust's stock worth $58,000 after buying an additional 6,229 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company's stock.

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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