Summit Hotel Properties (NYSE:INN) Sees Large Volume Increase – Time to Buy?

Summit Hotel Properties, Inc. (NYSE:INN) saw an uptick in trading volume on Monday . 3,652,199 shares were traded during trading, an increase of 190% from the previous session’s volume of 1,258,627 shares.The stock last traded at $6.1950 and had previously closed at $6.20.

Analyst Upgrades and Downgrades

INN has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th. Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $7.00 target price on shares of Summit Hotel Properties in a report on Monday, June 8th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.40.

Summit Hotel Properties Stock Performance

The stock’s 50-day moving average is $5.27 and its 200-day moving average is $4.87. The stock has a market cap of $679.99 million, a price-to-earnings ratio of -21.67 and a beta of 1.29. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.03%. The business had revenue of $185.05 million for the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Analysts anticipate that Summit Hotel Properties, Inc. will post 0.72 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 5.1%. Summit Hotel Properties’s payout ratio is presently -110.34%.

Institutional Investors Weigh In On Summit Hotel Properties

Institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Summit Hotel Properties during the 3rd quarter valued at about $35,000. Corient Private Wealth LLC bought a new stake in shares of Summit Hotel Properties during the 4th quarter valued at about $52,000. CIBC Asset Management Inc bought a new stake in shares of Summit Hotel Properties during the 4th quarter valued at about $52,000. Tower Research Capital LLC TRC boosted its stake in Summit Hotel Properties by 148.1% during 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. Finally, BNP Paribas Financial Markets boosted 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 period. Institutional investors own 96.47% of the company’s stock.

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.