Summit Hotel Properties (NYSE:INN) Sets New 1-Year High – Here’s Why

Shares of Summit Hotel Properties, Inc. (NYSE:INN) hit a new 52-week high on Tuesday . The company traded as high as $6.07 and last traded at $5.9680, with a volume of 120154 shares. The stock had previously closed at $5.98.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wall Street Zen raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Raymond James Financial reaffirmed an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a report on Monday. Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Finally, Weiss Ratings upgraded Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Stock Performance

The stock has a 50-day simple moving average of $5.19 and a 200 day simple moving average of $4.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $662.62 million, a PE ratio of -21.09 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $185.05 million for the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Equities analysts anticipate that Summit Hotel Properties, Inc. will post 0.72 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio is currently -110.34%.

Institutional Trading of Summit Hotel Properties

Several institutional investors and hedge funds have recently made changes to their positions in INN. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Summit Hotel Properties in the first quarter valued at $8,624,000. UBS Group AG lifted its position in shares of Summit Hotel Properties by 18.9% in the third quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock valued at $38,079,000 after acquiring an additional 1,102,102 shares in the last quarter. Invesco Ltd. lifted its position in shares of Summit Hotel Properties by 87.2% in the fourth quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock valued at $3,772,000 after acquiring an additional 360,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 279,823 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Summit Hotel Properties by 275.3% in the fourth quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock valued at $1,715,000 after acquiring an additional 258,261 shares in the last quarter. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Summit Hotel Properties Company Profile

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.