Summit Hotel Properties (NYSE:INN) Upgraded to Strong-Buy at Zacks Research

Summit Hotel Properties (NYSE:INN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

INN has been the topic of several other reports. Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Raymond James Financial reiterated an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Summit Hotel Properties currently has an average rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Stock Down 1.5%

INN stock opened at $6.92 on Wednesday. The firm’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $5.21. The company has a market capitalization of $749.53 million, a P/E ratio of -23.85 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. Summit Hotel Properties has a 12 month low of $3.97 and a 12 month high of $7.14.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.03%. The firm had revenue of $185.05 million for the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. As a group, equities research analysts forecast that Summit Hotel Properties will post 0.74 earnings per share for the current year.

Institutional Investors Weigh In On Summit Hotel Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new position in Summit Hotel Properties in the first quarter valued at $8,624,000. UBS Group AG raised 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 worth $38,079,000 after acquiring an additional 1,102,102 shares during the period. Invesco Ltd. boosted its stake in shares of Summit Hotel Properties by 87.2% during the 4th quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock worth $3,772,000 after acquiring an additional 360,800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Summit Hotel Properties by 12.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock worth $12,383,000 after acquiring an additional 279,823 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Summit Hotel Properties by 275.3% during the 4th quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock worth $1,715,000 after acquiring an additional 258,261 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

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.