Virtus Advisers LLC Buys New Shares in Summit Hotel Properties, Inc. $INN

Virtus Advisers LLC bought a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 121,477 shares of the real estate investment trust’s stock, valued at approximately $852,000. Virtus Advisers LLC owned approximately 0.11% of Summit Hotel Properties at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Quarry LP acquired a new stake in Summit Hotel Properties in the 3rd quarter valued at about $35,000. Corient Private Wealth LLC acquired a new position in shares of Summit Hotel Properties during the fourth quarter worth about $52,000. CIBC Asset Management Inc purchased a new stake in shares of Summit Hotel Properties during the fourth quarter worth approximately $52,000. Tower Research Capital LLC TRC increased its stake in shares of Summit Hotel Properties by 148.1% during the second 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 period. Finally, BNP Paribas Financial Markets increased its stake in shares of Summit Hotel Properties by 53.6% during 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 during the period. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Trading Up 0.2%

NYSE:INN opened at $6.16 on Friday. Summit Hotel Properties, Inc. has a 1 year low of $3.97 and a 1 year high of $7.17. The stock has a market cap of $664.36 million, a P/E ratio of -26.78 and a beta of 1.26. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50-day simple moving average of $6.60 and a 200-day simple moving average of $5.47.

Summit Hotel Properties (NYSE:INN) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $199.02 million for the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%.Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, analysts anticipate that Summit Hotel Properties, Inc. will post 0.76 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a yield of 5.2%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -139.13%.

Analyst Ratings Changes

A number of brokerages recently issued reports on INN. Zacks Research upgraded shares of Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Summit Hotel Properties presently has an average rating of “Moderate Buy” and a consensus target price of $5.40.

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.