Y Intercept Hong Kong Ltd Has $1.19 Million Stock Position in Summit Hotel Properties, Inc. $INN

Y Intercept Hong Kong Ltd lifted its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 717.9% during the 1st quarter, Holdings Channel reports. The firm owned 268,530 shares of the real estate investment trust’s stock after acquiring an additional 235,699 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Summit Hotel Properties were worth $1,187,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC lifted its stake in Summit Hotel Properties by 102.0% in the fourth quarter. Intech Investment Management LLC now owns 180,884 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 91,335 shares during the period. Versor Investments LP grew 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 buying an additional 107,000 shares during the period. M&T Bank Corp bought a new stake in shares of Summit Hotel Properties in the 4th quarter valued at about $58,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Summit Hotel Properties by 12.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,079 shares of the real estate investment trust’s stock valued at $648,000 after acquiring an additional 14,633 shares during the last quarter. Finally, Pensionfund PDN acquired a new stake in shares of Summit Hotel Properties in the 4th quarter valued at approximately $336,000. 96.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on INN shares. Zacks Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $7.00 price target on shares of Summit Hotel Properties in a research report on Monday, June 8th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Trading Down 0.4%

Shares of Summit Hotel Properties stock traded down $0.03 during trading hours on Friday, hitting $6.46. The company’s stock had a trading volume of 490,130 shares, compared to its average volume of 1,929,107. The company has a market capitalization of $699.46 million, a PE ratio of -22.26 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50 day moving average of $6.05 and a 200 day moving average of $5.09. Summit Hotel Properties, Inc. has a 12 month low of $3.97 and a 12 month high of $7.14.

Summit Hotel Properties (NYSE:INN) last issued 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 business had revenue of $185.05 million during the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Analysts predict that Summit Hotel Properties, Inc. will post 0.74 earnings per share for the current year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.32 annualized dividend and a dividend yield of 5.0%. Summit Hotel Properties’s dividend payout ratio is currently -110.34%.

About Summit Hotel Properties

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.