Summit Hotel Properties (NYSE:INN) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Summit Hotel Properties, Inc. (NYSE:INN)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.64 and traded as high as $5.79. Summit Hotel Properties shares last traded at $5.7350, with a volume of 539,847 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on INN. Raymond James Financial restated an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a report on Monday, June 8th. Weiss Ratings raised Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Finally, Zacks Research downgraded Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Summit Hotel Properties has an average rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Trading Up 0.4%

The firm has a market capitalization of $616.36 million, a price-to-earnings ratio of -24.85 and a beta of 1.24. The business’s 50-day moving average price is $6.29 and its 200 day moving average price is $5.65. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results 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 net margin of 0.99% and a negative return on equity of 0.60%. The business 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. On average, equities analysts forecast that Summit Hotel Properties, Inc. will post 0.76 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Monday, August 17th. Summit Hotel Properties’s payout ratio is presently -139.13%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in Summit Hotel Properties during the 2nd quarter worth approximately $4,316,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Summit Hotel Properties by 717.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 268,530 shares of the real estate investment trust’s stock valued at $1,187,000 after buying an additional 235,699 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Summit Hotel Properties during the 1st quarter valued at approximately $8,624,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Summit Hotel Properties during the second quarter worth approximately $1,633,000. Finally, Globeflex Capital L P bought a new stake in shares of Summit Hotel Properties in the second quarter worth $3,418,000. Hedge funds and other institutional investors own 96.47% of the company’s stock.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a self-managed real estate investment trust (REIT) focused on owning premium-branded hotels in the upscale and upper-midscale segments. The company’s properties primarily operate under recognized hospitality brands, including those affiliated with Marriott International, Hilton, Hyatt Hotels and InterContinental Hotels Group.

Summit’s hotel portfolio is concentrated in the United States, with an emphasis on markets supported by business, leisure and other diverse sources of lodging demand.