Summit Hotel Properties (NYSE:INN) Stock Rating Upgraded by Zacks Research

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

Other equities research analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Raymond James Financial reiterated an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Stock Performance

NYSE:INN opened at $6.92 on Wednesday. The stock’s 50-day simple moving average is $6.31 and its 200 day simple moving average is $5.21. The firm has a market capitalization of $749.53 million, a PE ratio of -23.85 and a beta of 1.26. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.16. Summit Hotel Properties has a twelve month low of $3.97 and a twelve month high of $7.14.

Summit Hotel Properties (NYSE:INN) last released its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (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 analysts’ expectations 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, analysts anticipate that Summit Hotel Properties will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Summit Hotel Properties

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC raised its position 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 valued at $31,301,000 after purchasing an additional 140,495 shares during the last quarter. UBS Group AG boosted its stake 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 purchasing an additional 1,102,102 shares in the last quarter. State Street Corp grew 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 worth $23,917,000 after purchasing an additional 56,090 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 worth $12,383,000 after purchasing an additional 279,823 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Summit Hotel Properties during the first quarter worth about $8,624,000. 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.