Zacks Research Upgrades Summit Hotel Properties (NYSE:INN) to Hold

Summit Hotel Properties (NYSE:INN) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

INN has been the topic of a number of other research reports. Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Monday, December 29th. Robert W. Baird set a $5.00 price target on Summit Hotel Properties in a research report on Wednesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft set a $6.00 target price on Summit Hotel Properties and gave the stock a “buy” rating in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Summit Hotel Properties has a consensus rating of “Reduce” and an average target price of $5.00.

Summit Hotel Properties Price Performance

NYSE:INN opened at $4.31 on Monday. The firm has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $5.03. Summit Hotel Properties has a 1-year low of $3.57 and a 1-year high of $6.00. The stock has a market capitalization of $468.38 million, a PE ratio of -18.72 and a beta of 1.25. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.14.

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

Insider Activity at Summit Hotel Properties

In other Summit Hotel Properties news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $4.84, for a total value of $121,000.00. Following the sale, the director owned 444,295 shares in the company, valued at approximately $2,150,387.80. This represents a 5.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Summit Hotel Properties

A number of hedge funds have recently added to or reduced their stakes in the stock. Long Pond Capital LP bought a new position in shares of Summit Hotel Properties in the 2nd quarter worth approximately $47,846,000. UBS Group AG increased its stake in Summit Hotel Properties by 18.9% in the 3rd quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock worth $38,079,000 after buying an additional 1,102,102 shares in the last quarter. Invesco Ltd. lifted its holdings in Summit Hotel Properties by 87.2% in the 4th quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock worth $3,772,000 after purchasing an additional 360,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Summit Hotel Properties by 275.3% in 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 during the last quarter. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

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.