Summit Hotel Properties (NYSE:INN) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Summit Hotel Properties, Inc. (NYSE:INN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.45 and traded as high as $6.21. Summit Hotel Properties shares last traded at $6.1570, with a volume of 807,518 shares traded.

Analyst Ratings Changes

INN has been the subject of several recent analyst reports. Weiss Ratings raised Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Raymond James Financial reissued an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th. Finally, Zacks Research upgraded shares of Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Summit Hotel Properties presently has an average rating of “Moderate Buy” and an average price target of $5.40.

Summit Hotel Properties Stock Performance

The business’s 50-day moving average price is $6.60 and its 200-day moving average price is $5.47. The stock has a market cap of $665.43 million, a P/E ratio of -26.82 and a beta of 1.26. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 0.71.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $199.02 million during the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, sell-side analysts expect that Summit Hotel Properties, Inc. will post 0.76 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a $0.08 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.2%. Summit Hotel Properties’s payout ratio is -139.13%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd raised its holdings in shares of Summit Hotel Properties by 717.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 268,530 shares of the real estate investment trust’s stock valued at $1,187,000 after acquiring an additional 235,699 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Summit Hotel Properties during the 1st quarter worth about $8,624,000. Jennison Associates LLC grew its holdings in Summit Hotel Properties by 2.0% during the 1st quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust’s stock worth $31,301,000 after acquiring an additional 140,495 shares in the last quarter. Weiss Asset Management LP purchased a new position in Summit Hotel Properties during the 1st quarter valued at about $510,000. Finally, Intech Investment Management LLC increased its position in Summit Hotel Properties by 102.0% during the 4th quarter. Intech Investment Management LLC now owns 180,884 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 91,335 shares during the period. Institutional investors 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.