Summit Hotel Properties, Inc. $INN Shares Sold by Strs Ohio

Strs Ohio trimmed its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 84.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,800 shares of the real estate investment trust’s stock after selling 103,300 shares during the period. Strs Ohio’s holdings in Summit Hotel Properties were worth $83,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Summit Hotel Properties during the 3rd quarter valued at $35,000. CIBC Asset Management Inc acquired a new stake in Summit Hotel Properties in the 4th quarter valued at $52,000. Corient Private Wealth LLC acquired a new stake in shares of Summit Hotel Properties in the fourth quarter valued at about $52,000. BNP Paribas Financial Markets grew its position in Summit Hotel Properties by 53.6% in the second 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 position in Summit Hotel Properties by 148.1% in the second 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 and hedge funds own 96.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INN. 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. Raymond James Financial reaffirmed an “outperform” rating and set a $7.00 price target on shares of Summit Hotel Properties in a report on Monday, June 8th. Finally, Zacks Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Price Performance

INN stock opened at $6.58 on Tuesday. The stock’s 50 day moving average is $6.08 and its two-hundred day moving average is $5.10. Summit Hotel Properties, Inc. has a 52-week low of $3.97 and a 52-week high of $7.14. The company has a market capitalization of $712.47 million, a PE ratio of -22.67 and a beta of 1.26. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.16.

Summit Hotel Properties (NYSE:INN) last released its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, beating the consensus estimate 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 company 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. Analysts predict that Summit Hotel Properties, Inc. will post 0.74 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio is -110.34%.

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.