Summit Hotel Properties (NYSE:INN) Stock Rating Upgraded by Wall Street Zen

Summit Hotel Properties (NYSE:INN) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also recently commented on the company. Zacks Research cut Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Robert W. Baird set a $5.00 price target on shares of Summit Hotel Properties in a report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft set a $6.00 price objective on shares of Summit Hotel Properties and gave the company a “buy” rating in a research note on Tuesday, January 13th. Bank of America restated an “underperform” rating and set a $4.50 target price (down from $5.75) on shares of Summit Hotel Properties in a research report on Tuesday, November 4th. Finally, Summit Redstone set a $4.50 price target on Summit Hotel Properties in a report on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $5.00.

Summit Hotel Properties Price Performance

Shares of INN opened at $4.51 on Friday. Summit Hotel Properties has a twelve month low of $3.57 and a twelve month high of $6.65. The stock’s 50 day moving average is $4.63 and its two-hundred day moving average is $5.12. The firm has a market capitalization of $490.14 million, a PE ratio of -19.59 and a beta of 1.24. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.14.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Wednesday, February 25th. The real estate investment trust reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). The company had revenue of $174.96 million for the quarter, compared to analyst estimates of $172.88 million. Summit Hotel Properties had a negative return on equity of 0.50% and a negative net margin of 0.87%.Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. Research analysts anticipate that Summit Hotel Properties will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $4.84, for a total value of $121,000.00. Following the transaction, the director owned 444,295 shares in the company, valued at approximately $2,150,387.80. The trade was a 5.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Summit Hotel Properties

Large investors have recently added to or reduced their stakes in the company. Long Pond Capital LP bought a new stake in shares of Summit Hotel Properties in the 2nd quarter worth approximately $47,846,000. UBS Group AG increased its position in 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 buying an additional 1,102,102 shares during the period. State Street Corp lifted its stake in Summit Hotel Properties by 1.2% in the fourth quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust’s stock valued at $23,917,000 after buying an additional 56,090 shares during the last quarter. Geode Capital Management LLC lifted its stake in Summit Hotel Properties by 1.8% in the second quarter. Geode Capital Management LLC now owns 2,877,261 shares of the real estate investment trust’s stock valued at $14,647,000 after buying an additional 50,295 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Summit Hotel Properties by 12.4% during 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 acquiring an additional 279,823 shares during the period. 96.47% of the stock is currently owned by institutional investors.

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.