Summit Hotel Properties (NYSE:INN) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Summit Hotel Properties (NYSE:INN) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

Several other research analysts have also commented on INN. Weiss Ratings restated a “sell (d+)” rating on shares of Summit Hotel Properties in a research note on Monday, December 29th. Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Robert W. Baird set a $5.00 price objective on shares of Summit Hotel Properties in a report on Wednesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft set a $6.00 target price on Summit Hotel Properties and gave the company a “buy” rating in a report on Tuesday, January 13th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $5.00.

Summit Hotel Properties Trading Up 0.6%

Shares of NYSE INN opened at $4.31 on Monday. The business has a 50 day simple moving average of $4.50 and a 200 day simple moving average of $5.03. Summit Hotel Properties has a 52 week low of $3.57 and a 52 week high of $6.00. The stock has a market cap of $468.38 million, a price-to-earnings ratio of -18.72 and a beta of 1.25. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.70 and a current ratio of 0.70.

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

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend was Friday, February 13th. Summit Hotel Properties’s payout ratio is currently -139.13%.

Insiders Place Their Bets

In other Summit Hotel Properties news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $4.84, for a total value of $121,000.00. Following the sale, the director owned 444,295 shares of the company’s stock, valued at $2,150,387.80. This trade represents a 5.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Summit Hotel Properties in the third quarter valued at approximately $35,000. Corient Private Wealth LLC bought a new position in Summit Hotel Properties during the fourth quarter worth $52,000. CIBC Asset Management Inc acquired a new position in Summit Hotel Properties during the 4th quarter valued at $52,000. BNP Paribas Financial Markets raised its stake in Summit Hotel Properties by 53.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,773 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Summit Hotel Properties by 148.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 6,442 shares during the period. 96.47% of the stock is currently owned by institutional investors and hedge funds.

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.