Summit Hotel Properties, Inc. (NYSE:INN) Stock Rated “Hold” by Wall Street Brokerages

Summit Hotel Properties, Inc. (NYSE:INN) has received a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $5.40.

A number of research firms have recently weighed in on INN. Weiss Ratings downgraded shares of Summit Hotel Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Zacks Research downgraded shares of Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th.

Summit Hotel Properties Stock Up 1.1%

NYSE INN opened at $7.02 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.15. The business has a 50 day moving average price of $5.98 and a two-hundred day moving average price of $5.96. The stock has a market cap of $756.91 million, a PE ratio of -30.51 and a beta of 1.29. Summit Hotel Properties has a fifty-two week low of $3.97 and a fifty-two week high of $7.17.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%. The firm had revenue of $199.02 million during the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, sell-side analysts predict that Summit Hotel Properties will post 0.77 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, August 17th. Summit Hotel Properties’s payout ratio is -139.13%.

Hedge Funds Weigh In On Summit Hotel Properties

Several large investors have recently added to or reduced their stakes in INN. Integrated Wealth Concepts LLC bought a new stake in Summit Hotel Properties during the second quarter valued at $39,000. SummitTX Capital L.P. bought a new stake in shares of Summit Hotel Properties during the first quarter valued at approximately $57,000. Renaissance Technologies LLC bought a new position in Summit Hotel Properties in the 1st quarter valued at about $69,000. Legal & General Group Plc acquired a new stake in Summit Hotel Properties in the second quarter worth approximately $71,000. Finally, Pallas Capital Advisors LLC bought a new stake in Summit Hotel Properties in the second quarter worth about $86,000. 96.47% of the stock is currently owned by institutional investors.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a real estate investment trust focused on owning premium-branded, select-service hotels in the United States. Its properties are generally located in business, leisure and transportation-oriented markets and operate under nationally recognized hotel brands.

The company’s hotel portfolio has included properties affiliated with brands such as Marriott, Hilton, Hyatt and InterContinental Hotels Group. These hotels typically provide guest accommodations along with services and amenities such as breakfast, meeting space, fitness facilities and other offerings designed for business and leisure travelers.

Summit Hotel Properties was founded in 2003 and became a publicly traded company in 2011.