Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.45 and traded as high as $6.21. Summit Hotel Properties shares last traded at $6.1570, with a volume of 807,518 shares trading hands.
Analyst Ratings Changes
INN has been the subject of a number of recent analyst reports. Zacks Research raised Summit Hotel Properties from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Raymond James Financial restated an "outperform" rating and issued a $7.00 target price on shares of Summit Hotel Properties in a research report on Monday, June 8th. Finally, Weiss Ratings raised Summit Hotel Properties from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Summit Hotel Properties currently has an average rating of "Moderate Buy" and an average target price of $5.40.
Check Out Our Latest Report on Summit Hotel Properties
Summit Hotel Properties Stock Up 2.1%
The stock's 50-day moving average is $6.61 and its 200-day moving average is $5.45. The stock has a market cap of $664.03 million, a P/E ratio of -26.77 and a beta of 1.26. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15.
Summit Hotel Properties (NYSE:INN - Get Free Report) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. The firm had revenue of $199.02 million for the quarter, compared to analysts' expectations of $198.41 million. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, research analysts anticipate that Summit Hotel Properties, Inc. will post 0.75 earnings per share for the current fiscal year.
Summit Hotel Properties Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, August 17th. Summit Hotel Properties's dividend payout ratio (DPR) is currently -139.13%.
Institutional Investors Weigh In On Summit Hotel Properties
A number of institutional investors have recently added to or reduced their stakes in INN. BlackRock Inc. bought a new position in Summit Hotel Properties during the 2nd quarter valued at $66,080,000. Jennison Associates LLC raised its stake in shares of Summit Hotel Properties by 2.0% in the 1st quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust's stock worth $31,301,000 after buying an additional 140,495 shares in the last quarter. UBS Group AG raised its stake in shares of Summit Hotel Properties by 18.9% in the 3rd quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust's stock worth $38,079,000 after buying an additional 1,102,102 shares in the last quarter. State Street Corp raised its stake in shares of Summit Hotel Properties by 1.2% in the 4th quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust's stock worth $23,917,000 after buying an additional 56,090 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Summit Hotel Properties by 12.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust's stock valued at $12,383,000 after buying an additional 279,823 shares during the period. 96.47% of the stock is currently owned by institutional investors and hedge funds.
About Summit Hotel Properties
(
Get Free Report)
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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