Summit Hotel Properties (NYSE:INN) Sets New 52-Week High – Time to Buy?

Summit Hotel Properties, Inc. (NYSE:INN)’s stock price reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $7.17 and last traded at $7.1450, with a volume of 99,365 shares. The stock had previously closed at $7.04.

Analyst Upgrades and Downgrades

Several brokerages have commented on INN. Weiss Ratings lowered shares of Summit Hotel Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Zacks Research downgraded shares of Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Price Performance

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 0.71. The company’s fifty day simple moving average is $5.98 and its two-hundred day simple moving average is $5.96. The stock has a market capitalization of $757.24 million, a PE ratio of -30.52 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%. The firm had revenue of $199.02 million during the quarter, compared to the consensus estimate of $198.41 million. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, sell-side analysts predict that Summit Hotel Properties, Inc. will post 0.77 EPS for the current year.

Summit Hotel Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, August 17th. Summit Hotel Properties’s payout ratio is -139.13%.

Institutional Trading of Summit Hotel Properties

Large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in Summit Hotel Properties during the 2nd quarter worth about $39,000. SummitTX Capital L.P. purchased a new stake in shares of Summit Hotel Properties during the first quarter worth about $57,000. Renaissance Technologies LLC purchased a new stake in shares of Summit Hotel Properties during the first quarter worth about $69,000. Legal & General Group Plc acquired a new position in shares of Summit Hotel Properties in the second quarter valued at approximately $71,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Summit Hotel Properties in the second quarter valued at approximately $86,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a real estate investment trust (REIT) focused on owning and investing in premium-branded, select-service hotels in the United States. Its properties generally operate under nationally recognized hotel brands and serve business and leisure travelers.

The company’s portfolio has included hotels affiliated with major hospitality brands such as Marriott, Hilton, Hyatt and InterContinental Hotels Group. Summit emphasizes select-service properties, which typically offer essential lodging amenities while operating with a more streamlined cost structure than full-service hotels.

Summit Hotel Properties was founded in 2003 and became a publicly traded company in 2011.