Summit Hotel Properties (NYSE:INN) Sets New 1-Year High – Still a Buy?

Summit Hotel Properties, Inc. (NYSE:INN)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $6.67 and last traded at $6.6460, with a volume of 1761188 shares. The stock had previously closed at $6.63.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INN. Zacks Research upgraded Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Stock Up 1.7%

The firm’s 50 day simple moving average is $5.56 and its 200 day simple moving average is $4.94. The company has a market cap of $723.84 million, a price-to-earnings ratio of -23.03 and a beta of 1.29. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.16.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The business had revenue of $185.05 million during the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Sell-side analysts anticipate that Summit Hotel Properties, Inc. will post 0.74 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s payout ratio is -110.34%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Summit Hotel Properties in the 1st quarter worth approximately $8,624,000. UBS Group AG boosted its holdings in shares of 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 acquiring an additional 1,102,102 shares in the last quarter. Invesco Ltd. increased its stake in shares of Summit Hotel Properties by 87.2% during the fourth quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock valued at $3,772,000 after acquiring an additional 360,800 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Summit Hotel Properties by 12.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock valued at $12,383,000 after acquiring an additional 279,823 shares during the period. Finally, Jane Street Group LLC raised its holdings in Summit Hotel Properties by 275.3% during the fourth quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock worth $1,715,000 after purchasing an additional 258,261 shares in the last quarter. 96.47% of the stock is owned by institutional investors and hedge funds.

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.