Summit Hotel Properties (NYSE:INN) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Summit Hotel Properties, Inc. (NYSE:INN) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $5.72 and traded as high as $5.85. Summit Hotel Properties shares last traded at $5.8050, with a volume of 960,632 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INN shares. Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Raymond James Financial restated an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a report on Monday, June 8th. Finally, Zacks Research cut Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 24th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Summit Hotel Properties currently has a consensus rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Stock Up 1.3%

The company’s fifty day simple moving average is $6.13 and its 200-day simple moving average is $5.73. The firm has a market capitalization of $645.48 million, a PE ratio of -26.02 and a beta of 1.24. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71.

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

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.3%. Summit Hotel Properties’s payout ratio is presently -139.13%.

Hedge Funds Weigh In On Summit Hotel Properties

Several hedge funds and other institutional investors have recently modified their holdings of INN. BlackRock Inc. purchased a new stake in Summit Hotel Properties during the 2nd quarter worth approximately $66,080,000. Jennison Associates LLC raised its holdings in shares of 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 worth $31,301,000 after buying an additional 140,495 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Summit Hotel Properties during the first quarter worth $8,624,000. Bank of New York Mellon Corp acquired a new stake in shares of Summit Hotel Properties during the second quarter worth $4,316,000. Finally, Algert Global LLC purchased a new stake in shares of Summit Hotel Properties during the second quarter valued at $3,856,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a self-managed real estate investment trust (REIT) focused on owning premium-branded hotels in the upscale and upper-midscale segments. The company’s properties primarily operate under recognized hospitality brands, including those affiliated with Marriott International, Hilton, Hyatt Hotels and InterContinental Hotels Group.

Summit’s hotel portfolio is concentrated in the United States, with an emphasis on markets supported by business, leisure and other diverse sources of lodging demand.