Ieq Capital LLC Acquires New Holdings in Summit Hotel Properties, Inc. $INN

Ieq Capital LLC bought a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 123,158 shares of the real estate investment trust’s stock, valued at approximately $863,000. Ieq Capital LLC owned 0.11% of Summit Hotel Properties as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Summit Hotel Properties during the 2nd quarter worth $66,080,000. Jennison Associates LLC raised its holdings in Summit Hotel Properties by 2.0% in the first quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust’s stock worth $31,301,000 after purchasing an additional 140,495 shares in the last quarter. UBS Group AG raised its holdings in 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 worth $38,079,000 after purchasing an additional 1,102,102 shares in the last quarter. State Street Corp lifted its position in shares of Summit Hotel Properties by 1.2% during the fourth quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust’s stock valued at $23,917,000 after buying an additional 56,090 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 279,823 shares during the last quarter. Institutional investors own 96.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on INN. 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. Zacks Research cut shares of Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Raymond James Financial restated an “outperform” rating and issued 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, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.40.

Summit Hotel Properties Trading Down 1.3%

Shares of NYSE:INN opened at $5.91 on Friday. The business’s 50-day moving average is $6.57 and its 200 day moving average is $5.52. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71. Summit Hotel Properties, Inc. has a 1 year low of $3.97 and a 1 year high of $7.17. The firm has a market capitalization of $637.84 million, a P/E ratio of -25.71 and a beta of 1.26.

Summit Hotel Properties (NYSE:INN) last issued its quarterly 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. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%.The business had revenue of $199.02 million during the quarter, compared to the consensus estimate of $198.41 million. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. On average, research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Monday, August 17th. Summit Hotel Properties’s payout ratio is currently -139.13%.

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.