Summit Hotel Properties (NYSE:INN) Issues Quarterly Earnings Results

Summit Hotel Properties (NYSE:INN) announced its earnings results on Wednesday. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05, FiscalAI reports. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.03%. The company had revenue of $199.02 million during the quarter, compared to analysts’ expectations of $198.41 million. Summit Hotel Properties updated its FY 2026 guidance to 0.790-0.850 EPS.

Summit Hotel Properties Trading Down 2.3%

INN stock traded down $0.15 during trading on Thursday, reaching $6.67. 829,666 shares of the stock traded hands, compared to its average volume of 1,314,266. The business’s 50 day moving average price is $6.55 and its 200-day moving average price is $5.35. Summit Hotel Properties has a 52-week low of $3.97 and a 52-week high of $7.17. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $722.22 million, a PE ratio of -22.98 and a beta of 1.26.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors 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 yield of 4.8%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -110.34%.

Hedge Funds Weigh In On Summit Hotel Properties

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Summit Hotel Properties by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 2,528 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Summit Hotel Properties by 1.7% during the 1st quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock valued at $896,000 after buying an additional 2,793 shares during the last quarter. Amundi boosted its stake in shares of Summit Hotel Properties by 19.9% during the 3rd quarter. Amundi now owns 18,320 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 3,040 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Summit Hotel Properties by 22.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 3,527 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Summit Hotel Properties by 53.6% during the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 3,773 shares in the last quarter. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INN has been the subject of several research reports. Zacks Research upgraded Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $7.00 price target on shares of Summit Hotel Properties in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Summit Hotel Properties has a consensus rating of “Hold” and a consensus target price of $5.40.

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.