Brokerages Set Summit Hotel Properties, Inc. (NYSE:INN) PT at $5.00

Summit Hotel Properties, Inc. (NYSE:INN) has been assigned a consensus rating of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $5.00.

Several analysts have weighed in on the company. Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Robert W. Baird set a $5.00 price objective on Summit Hotel Properties in a report on Wednesday, December 17th. Wall Street Zen upgraded 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 research note on Friday, March 27th. Finally, 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.

Insider Activity

In related news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the company’s stock in a transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Summit Hotel Properties

Several hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Summit Hotel Properties in the 3rd quarter worth about $35,000. Corient Private Wealth LLC purchased a new position in shares of Summit Hotel Properties during the 4th quarter valued at about $52,000. CIBC Asset Management Inc bought a new stake in Summit Hotel Properties in the 4th quarter worth approximately $52,000. Tower Research Capital LLC TRC lifted its position in Summit Hotel Properties by 148.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 6,442 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake 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 worth $55,000 after buying an additional 3,773 shares in the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Up 0.1%

INN opened at $4.38 on Friday. The firm has a market capitalization of $476 million, a P/E ratio of -19.02 and a beta of 1.23. Summit Hotel Properties has a one year low of $3.57 and a one year high of $6.00. The company has a fifty day moving average price of $4.40 and a 200-day moving average price of $4.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.70 and a quick ratio of 0.70.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). The business had revenue of $174.96 million during the quarter, compared to analysts’ expectations of $172.88 million. Summit Hotel Properties had a negative return on equity of 0.50% and a negative net margin of 0.87%.Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. Equities research analysts expect that Summit Hotel Properties will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend was Friday, February 13th. Summit Hotel Properties’s payout ratio is currently -139.13%.

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.