Weiss Asset Management LP Buys Shares of 115,474 Summit Hotel Properties, Inc. $INN

Weiss Asset Management LP bought a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 115,474 shares of the real estate investment trust’s stock, valued at approximately $510,000. Weiss Asset Management LP owned approximately 0.11% of Summit Hotel Properties as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in INN. Jennison Associates LLC increased its holdings in shares of Summit Hotel Properties by 2.0% in the 1st quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust’s stock valued at $31,301,000 after purchasing an additional 140,495 shares in the last quarter. UBS Group AG grew its position in Summit Hotel Properties by 18.9% during 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 buying an additional 1,102,102 shares during the period. State Street Corp grew its position in Summit Hotel Properties by 1.2% during the fourth quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust’s stock worth $23,917,000 after buying an additional 56,090 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 buying an additional 279,823 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Summit Hotel Properties in the first quarter valued at about $8,624,000. 96.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INN. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Raymond James Financial reissued an “outperform” rating and issued a $7.00 target price on shares of Summit Hotel Properties in a report on Monday, June 8th. Finally, Zacks Research raised Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Summit Hotel Properties presently has an average rating of “Hold” and an average target price of $5.40.

Summit Hotel Properties Price Performance

INN stock opened at $6.89 on Tuesday. Summit Hotel Properties, Inc. has a 1 year low of $3.97 and a 1 year high of $7.14. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50 day moving average price is $6.37 and its 200 day moving average price is $5.24. The firm has a market cap of $747.14 million, a P/E ratio of -23.78 and a beta of 1.26.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, topping 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 the consensus estimate of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. On average, sell-side analysts expect that Summit Hotel Properties, Inc. will post 0.74 earnings per share for the current fiscal year.

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.