Summit Hotel Properties (NYSE:INN) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Summit Hotel Properties (NYSE:INN) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other brokerages have also recently issued reports on INN. Robert W. Baird set a $5.00 price objective on Summit Hotel Properties in a report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft set a $6.00 target price on shares of Summit Hotel Properties and gave the company a “buy” rating in a research report on Tuesday, January 13th. Zacks Research lowered shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Finally, Bank of America reissued an “underperform” rating and issued a $4.50 price objective (down from $5.75) on shares of Summit Hotel Properties in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $5.00.

Summit Hotel Properties Trading Down 3.1%

Shares of Summit Hotel Properties stock opened at $4.51 on Friday. Summit Hotel Properties has a 1 year low of $3.57 and a 1 year high of $6.65. The company has a market capitalization of $490.14 million, a price-to-earnings ratio of -19.59 and a beta of 1.29. The business has a fifty day simple moving average of $4.63 and a two-hundred day simple moving average of $5.12. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.65 and a quick ratio of 0.65.

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 company had revenue of $174.96 million during 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. Research analysts forecast that Summit Hotel Properties will post 0.88 EPS for the current year.

Summit Hotel Properties Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 annualized dividend and a yield of 7.1%. Summit Hotel Properties’s dividend payout ratio is currently -139.13%.

Insider Transactions at Summit Hotel Properties

In other news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $4.84, for a total value of $121,000.00. Following the completion of the transaction, the director directly owned 444,295 shares in the company, valued at approximately $2,150,387.80. The trade was a 5.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INN. Quarry LP bought a new stake in Summit Hotel Properties during the third quarter worth $35,000. Corient Private Wealth LLC bought a new stake in shares of Summit Hotel Properties during the 4th quarter worth $52,000. CIBC Asset Management Inc bought a new stake in shares of Summit Hotel Properties during the 4th quarter worth $52,000. BNP Paribas Financial Markets grew its position in Summit Hotel Properties by 53.6% in the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 3,773 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Summit Hotel Properties by 148.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 6,442 shares in the last quarter. 96.47% of the stock is owned by institutional investors.

Summit Hotel Properties Company Profile

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.