Ieq Capital LLC Makes New $863,000 Investment in Summit Hotel Properties, Inc. $INN

Ieq Capital LLC purchased a new stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 123,158 shares of the real estate investment trust’s stock, valued at approximately $863,000.

A number of other hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in shares of Summit Hotel Properties in the third quarter worth about $35,000. Corient Private Wealth LLC acquired a new position in Summit Hotel Properties in the 4th quarter worth approximately $52,000. CIBC Asset Management Inc purchased a new position in Summit Hotel Properties during the 4th quarter worth approximately $52,000. BNP Paribas Financial Markets raised its position in Summit Hotel Properties by 53.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 3,773 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Summit Hotel Properties by 148.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 6,442 shares during the period. 96.47% of the stock is owned by institutional investors and hedge funds.

Summit Hotel Properties Price Performance

Shares of NYSE INN opened at $5.91 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $637.84 million, a price-to-earnings ratio of -25.71 and a beta of 1.26. The firm’s 50 day simple moving average is $6.57 and its 200-day simple moving average is $5.52. Summit Hotel Properties, Inc. has a 12 month low of $3.97 and a 12 month high of $7.17.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $199.02 million during the quarter, compared to analysts’ expectations of $198.41 million. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. Analysts expect that Summit Hotel Properties, Inc. will post 0.76 EPS for the current year.

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.08 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.4%. Summit Hotel Properties’s dividend payout ratio is -139.13%.

Analysts Set New Price Targets

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

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.