Summit Hotel Properties (NYSE:INN) Sees Large Volume Increase – Here’s Why

Summit Hotel Properties, Inc. (NYSE:INN) shares saw unusually-strong trading volume on Monday . Approximately 3,652,199 shares traded hands during trading, an increase of 190% from the previous session’s volume of 1,258,627 shares.The stock last traded at $6.1950 and had previously closed at $6.20.

Analysts Set New Price Targets

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

Summit Hotel Properties Stock Performance

The stock has a market capitalization of $696.21 million, a price-to-earnings ratio of -22.16 and a beta of 1.29. The firm has a fifty day moving average of $5.35 and a 200 day moving average of $4.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $185.05 million for the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. On average, sell-side analysts anticipate that Summit Hotel Properties, Inc. will post 0.74 earnings per share 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. The ex-dividend date was Friday, May 15th. This represents a $0.32 dividend on an annualized basis and a yield of 5.0%. Summit Hotel Properties’s dividend payout ratio is currently -110.34%.

Hedge Funds Weigh In On Summit Hotel Properties

A number of hedge funds have recently bought and sold shares of the business. Jennison Associates LLC boosted its position in Summit Hotel Properties by 2.0% during 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 shares of Summit Hotel Properties by 18.9% during 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 during the last quarter. State Street Corp raised its holdings 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 acquiring an additional 56,090 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Hotel Properties during the first quarter valued at approximately $8,624,000. Hedge funds and other institutional investors own 96.47% of the company’s stock.

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.