Summit Hotel Properties (NYSE:INN) Sees Large Volume Increase – Should You Buy?

Summit Hotel Properties, Inc. (NYSE:INN) shares saw an uptick in trading volume on Wednesday . 1,644,865 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 1,126,580 shares.The stock last traded at $5.87 and had previously closed at $5.87.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INN. Wall Street Zen raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings raised Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. Finally, Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $5.00.

Summit Hotel Properties Price Performance

The stock has a market capitalization of $650.19 million, a P/E ratio of -20.69 and a beta of 1.29. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50-day simple moving average of $4.96 and a 200 day simple moving average of $4.82.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $185.05 million for the quarter, compared to analyst estimates 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, equities analysts forecast that Summit Hotel Properties, Inc. will post 0.72 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -110.34%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Jennison Associates LLC boosted its position in Summit Hotel Properties by 2.0% in the 1st quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust’s stock valued at $31,301,000 after buying an additional 140,495 shares during the last quarter. UBS Group AG lifted its stake in shares of 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 valued at $38,079,000 after purchasing an additional 1,102,102 shares during the period. State Street Corp lifted its stake in shares of Summit Hotel Properties by 1.2% in the 4th quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust’s stock valued at $23,917,000 after purchasing an additional 56,090 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Summit Hotel Properties by 12.4% in the 4th 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 purchasing an additional 279,823 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Summit Hotel Properties in the 1st quarter valued at $8,624,000. 96.47% of the stock is currently owned by 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.