Analysts Set Summit Hotel Properties, Inc. (NYSE:INN) PT at $5.40

Summit Hotel Properties, Inc. (NYSE:INN) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $5.40.

A number of analysts have issued reports on the company. Zacks Research raised Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Raymond James Financial restated an “outperform” rating and set a $7.00 price target on shares of Summit Hotel Properties in a research note on Monday, June 8th.

Hedge Funds Weigh In On Summit Hotel Properties

Large investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd raised its holdings in shares of Summit Hotel Properties by 717.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 268,530 shares of the real estate investment trust’s stock worth $1,187,000 after acquiring an additional 235,699 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Summit Hotel Properties in the first quarter worth $8,624,000. Jennison Associates LLC boosted its stake 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 buying an additional 140,495 shares during the period. Weiss Asset Management LP purchased a new position in Summit Hotel Properties during the first quarter worth $510,000. Finally, Intech Investment Management LLC increased its position in Summit Hotel Properties by 102.0% during 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 acquiring an additional 91,335 shares during the last quarter. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Performance

Shares of INN opened at $6.50 on Friday. The stock has a 50 day moving average of $6.58 and a 200 day moving average of $5.37. The company has a market capitalization of $700.49 million, a price-to-earnings ratio of -28.24 and a beta of 1.26. Summit Hotel Properties has a 12 month low of $3.97 and a 12 month high of $7.17. The company has a current ratio of 0.71, a quick ratio of 0.87 and a debt-to-equity ratio of 1.15.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $199.02 million during the quarter, compared to the consensus estimate of $198.41 million. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%.Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, sell-side analysts forecast that Summit Hotel Properties will post 0.75 earnings per share for the current year.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Monday, August 17th. Summit Hotel Properties’s payout ratio is presently -139.13%.

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.