Summit Hotel Properties (NYSE:INN) Upgraded at Zacks Research

Zacks Research upgraded shares of Summit Hotel Properties (NYSE:INN) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on INN. 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft set a $6.00 price target on Summit Hotel Properties and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Finally, Robert W. Baird set a $5.00 target price on Summit Hotel Properties in a research note on Wednesday, December 17th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $5.00.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock opened at $4.31 on Monday. The company has a market capitalization of $468.38 million, a PE ratio of -18.72 and a beta of 1.25. The company has a 50-day simple moving average of $4.50 and a two-hundred day simple moving average of $5.03. Summit Hotel Properties has a one year low of $3.57 and a one year high of $6.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.70 and a current ratio of 0.70.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Wednesday, February 25th. The real estate investment trust reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). Summit Hotel Properties had a negative net margin of 0.87% and a negative return on equity of 0.50%. The firm had revenue of $174.96 million during the quarter, compared to the consensus estimate of $172.88 million. Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. Research analysts expect that Summit Hotel Properties will post 0.88 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.4%. Summit Hotel Properties’s dividend payout ratio (DPR) is currently -139.13%.

Insider Activity at Summit Hotel Properties

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

Institutional Trading of Summit Hotel Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INN. Long Pond Capital LP acquired a new stake in shares of Summit Hotel Properties during the second quarter worth about $47,846,000. UBS Group AG boosted its position in Summit Hotel Properties by 18.9% in the third quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock valued at $38,079,000 after buying an additional 1,102,102 shares during the last quarter. Invesco Ltd. increased its holdings in Summit Hotel Properties by 87.2% in the 4th quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock worth $3,772,000 after buying an additional 360,800 shares during the period. Charles Schwab Investment Management Inc. raised its position in Summit Hotel Properties by 12.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock worth $12,383,000 after buying an additional 279,823 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Summit Hotel Properties by 275.3% during the 4th quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock worth $1,715,000 after buying an additional 258,261 shares during the last quarter. Institutional investors and hedge funds 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.