Summit Hotel Properties (NYSE:INN) Reaches New 12-Month High – Still a Buy?

Summit Hotel Properties, Inc. (NYSE:INN)’s share price reached a new 52-week high on Monday . The stock traded as high as $6.67 and last traded at $6.6460, with a volume of 1761188 shares. The stock had previously closed at $6.63.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INN shares. Zacks Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th. Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Raymond James Financial restated an “outperform” rating and issued a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Price Performance

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average price of $5.48 and a two-hundred day moving average price of $4.92. The firm has a market cap of $721.14 million, a P/E ratio of -22.95 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The business had revenue of $185.05 million during the quarter, compared to analysts’ expectations of $180.51 million. 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 0.74 earnings per share for the current year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -110.34%.

Institutional Trading of Summit Hotel Properties

A number of institutional investors have recently made changes to their positions in INN. Quarry LP bought a new position in Summit Hotel Properties in the third quarter valued at $35,000. Corient Private Wealth LLC acquired a new position in shares of Summit Hotel Properties during the 4th quarter worth about $52,000. CIBC Asset Management Inc acquired a new position in shares of Summit Hotel Properties during the 4th quarter worth about $52,000. BNP Paribas Financial Markets grew its holdings in shares of Summit Hotel Properties by 53.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 3,773 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Summit Hotel Properties by 148.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 6,442 shares in the last quarter. 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.