Summit Hotel Properties, Inc. (NYSE:INN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Summit Hotel Properties, Inc. (NYSE:INN) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat reports. One research 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 1-year price objective among brokers that have issued ratings on the stock in the last year is $5.40.

Several analysts recently commented on INN shares. Zacks Research raised Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Weiss Ratings raised Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $7.00 target price on shares of Summit Hotel Properties in a research report on Monday, June 8th.

Institutional Trading of Summit Hotel Properties

Large investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Summit Hotel Properties in the third quarter worth approximately $35,000. Corient Private Wealth LLC purchased a new stake in shares of Summit Hotel Properties in the 4th quarter worth $52,000. CIBC Asset Management Inc bought a new position in Summit Hotel Properties in the 4th quarter worth $52,000. BNP Paribas Financial Markets lifted its position in Summit Hotel Properties by 53.6% during the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,773 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Summit Hotel Properties by 148.1% during the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 6,442 shares during the period. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Trading Up 0.9%

Shares of INN stock opened at $6.20 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Summit Hotel Properties has a 12-month low of $3.97 and a 12-month high of $7.17. The stock has a market capitalization of $668.13 million, a P/E ratio of -26.93 and a beta of 1.26. The firm’s 50 day moving average is $6.59 and its 200 day moving average is $5.50.

Summit Hotel Properties (NYSE:INN) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $199.02 million during the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. Research analysts expect that Summit Hotel Properties will post 0.76 earnings per share for the current year.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Monday, August 17th. Summit Hotel Properties’s dividend payout ratio is -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.