Summit Hotel Properties (NYSE:INN) Sees Strong Trading Volume – Here’s What Happened

Shares of Summit Hotel Properties, Inc. (NYSE:INN) saw an uptick in trading volume on Wednesday . 1,644,865 shares were traded during trading, an increase of 46% from the previous session’s volume of 1,126,580 shares.The stock last traded at $5.87 and had previously closed at $5.87.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INN. Wall Street Zen upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Finally, Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Summit Hotel Properties has a consensus rating of “Reduce” and a consensus price target of $5.00.

Summit Hotel Properties Stock Up 1.6%

The business’s 50 day moving average is $5.06 and its 200-day moving average is $4.83. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $644.09 million, a price-to-earnings ratio of -20.50 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.03%. The business had revenue of $185.05 million for the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Equities analysts anticipate that Summit Hotel Properties, Inc. will post 0.72 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.08 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 5.4%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -110.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Summit Hotel Properties by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 2,528 shares in the last quarter. Jane Street Group LLC boosted its position in Summit Hotel Properties by 1.7% in the first 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 in the last quarter. Amundi boosted its position in Summit Hotel Properties by 19.9% in the third 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 in the last quarter. Resona Asset Management Co. Ltd. boosted its position in Summit Hotel Properties by 7.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 48,128 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 3,261 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Summit Hotel Properties by 22.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 3,527 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors and hedge funds.

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.