Summit Hotel Properties (NYSE:INN) Trading Up 9.9% – Here’s Why

Summit Hotel Properties, Inc. (NYSE:INN) shares rose 9.9% during trading on Thursday . The company traded as high as $4.70 and last traded at $4.7050. Approximately 490,065 shares changed hands during trading, a decline of 36% from the average daily volume of 766,444 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

INN has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Monday, December 29th. Robert W. Baird set a $5.00 price objective on shares of Summit Hotel Properties in a research note on Wednesday, December 17th. Bank of America reissued an “underperform” rating and set a $4.50 target price (down from $5.75) on shares of Summit Hotel Properties in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft set a $6.00 price target on shares of Summit Hotel Properties and gave the stock a “buy” rating in a report on Tuesday, January 13th. Finally, Zacks Research lowered shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $5.00.

Summit Hotel Properties Price Performance

The business’s 50-day moving average is $4.65 and its two-hundred day moving average is $5.13. The company has a market capitalization of $509.73 million, a P/E ratio of -29.28 and a beta of 1.29. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.14.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Wednesday, February 25th. The real estate investment trust reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). The business had revenue of $174.96 million for the quarter, compared to the consensus estimate of $172.88 million. Summit Hotel Properties had a return on equity of 0.02% and a net margin of 0.04%.Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. As a group, analysts predict that Summit Hotel Properties, Inc. will post 0.88 earnings per share for the current year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.32 annualized dividend and a yield of 6.8%. Summit Hotel Properties’s payout ratio is currently -200.00%.

Insiders Place Their Bets

In other news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $4.84, for a total transaction of $121,000.00. Following the completion of the transaction, the director directly owned 444,295 shares of the company’s stock, valued at $2,150,387.80. This represents a 5.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Summit Hotel Properties

Several institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in shares of Summit Hotel Properties during the 2nd quarter valued at $892,000. Asset Management One Co. Ltd. raised its stake in Summit Hotel Properties by 2.9% in the 2nd quarter. Asset Management One Co. Ltd. now owns 160,824 shares of the real estate investment trust’s stock valued at $819,000 after acquiring an additional 4,483 shares during the period. Long Pond Capital LP purchased a new stake in Summit Hotel Properties during the second quarter valued at about $47,846,000. Penserra Capital Management LLC bought a new position in Summit Hotel Properties during the second quarter worth about $1,257,000. Finally, Strs Ohio increased its stake in shares of Summit Hotel Properties by 3,028.7% in the second quarter. Strs Ohio now owns 588,200 shares of the real estate investment trust’s stock worth $2,994,000 after purchasing an additional 569,400 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.