Summit Hotel Properties, Inc. (NYSE:INN) Receives $5.40 Consensus Target Price from Brokerages

Shares of Summit Hotel Properties, Inc. (NYSE:INN) have earned an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.40.

INN has been the topic of several research reports. 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. Raymond James Financial reissued an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a report on Monday, June 8th. Finally, Zacks Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th.

Institutional Trading of Summit Hotel Properties

Institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in shares of Summit Hotel Properties during the 3rd quarter worth approximately $860,000. Intech Investment Management LLC raised its position in shares of Summit Hotel Properties by 102.0% during the 4th quarter. Intech Investment Management LLC now owns 180,884 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 91,335 shares during the period. Versor Investments LP raised its position in shares of Summit Hotel Properties by 286.9% during the 4th quarter. Versor Investments LP now owns 144,300 shares of the real estate investment trust’s stock worth $703,000 after purchasing an additional 107,000 shares during the period. M&T Bank Corp acquired a new stake in shares of Summit Hotel Properties during the 4th quarter worth approximately $340,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Summit Hotel Properties by 12.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,079 shares of the real estate investment trust’s stock worth $648,000 after purchasing an additional 14,633 shares during the period. 96.47% of the stock is currently owned by institutional investors and hedge funds.

Summit Hotel Properties Trading Up 3.7%

Shares of NYSE INN opened at $6.65 on Friday. The stock’s 50 day moving average price is $5.44 and its two-hundred day moving average price is $4.91. Summit Hotel Properties has a 52-week low of $3.97 and a 52-week high of $6.67. The stock has a market capitalization of $720.05 million, a P/E ratio of -22.91 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 announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $185.05 million for the quarter, compared to analysts’ expectations of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. On average, analysts anticipate that Summit Hotel Properties will post 0.74 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

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

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.