Zacks Research Upgrades Summit Hotel Properties (NYSE:INN) to "Hold"

Key Points

• Zacks Research upgraded Summit Hotel Properties from a "strong sell" to a "hold" rating in a recent report.
• Other analysts have mixed ratings on the stock, with a consensus rating of "Reduce" and a target price of $5.13 according to MarketBeat.com.
• Summit Hotel Properties reported earnings of $0.27 per share for the last quarter, slightly exceeding analyst estimates.

Summit Hotel Properties (NYSE:INN - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Robert W. Baird cut their price target on Summit Hotel Properties from $5.00 to $4.50 and set a "neutral" rating on the stock in a report on Friday, October 3rd. Bank of America boosted their price target on Summit Hotel Properties from $5.00 to $5.75 and gave the company a "neutral" rating in a report on Monday, July 21st. Weiss Ratings restated a "sell (d+)" rating on shares of Summit Hotel Properties in a report on Tuesday, October 14th. Finally, Wall Street Zen lowered Summit Hotel Properties from a "hold" rating to a "sell" rating in a report on Saturday, October 18th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Summit Hotel Properties has a consensus rating of "Reduce" and a consensus target price of $5.13.

Summit Hotel Properties Stock Performance

INN stock opened at $5.45 on Tuesday. The business's 50-day moving average price is $5.51 and its two-hundred day moving average price 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. The firm has a market cap of $592.47 million, a PE ratio of -60.50 and a beta of 1.70. Summit Hotel Properties has a 1-year low of $3.57 and a 1-year high of $6.99.

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

Institutional Trading of Summit Hotel Properties

Several institutional investors and hedge funds have recently bought and sold shares of INN. GAMMA Investing LLC raised its holdings 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 acquiring an additional 6,732 shares in the last quarter. Signaturefd LLC raised its holdings in Summit Hotel Properties by 36.4% during the second quarter. Signaturefd LLC now owns 8,656 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 2,309 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in 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 worth $55,000 after acquiring an additional 3,773 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Summit Hotel Properties by 148.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 6,442 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in Summit Hotel Properties by 119.6% during the second quarter. Coldstream Capital Management Inc. now owns 11,438 shares of the real estate investment trust's stock worth $58,000 after acquiring an additional 6,229 shares in the last quarter. 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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