Summit Hotel Properties (NYSE:INN) Sees Large Volume Increase – Time to Buy?

Summit Hotel Properties, Inc. (NYSE:INN) shares saw unusually-high trading volume on Monday . Approximately 3,652,199 shares were traded during trading, an increase of 190% from the previous session’s volume of 1,258,627 shares.The stock last traded at $6.1950 and had previously closed at $6.20.

Analyst Ratings Changes

INN has been the subject of a number of analyst reports. Raymond James Financial reissued an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a research note on Monday, June 8th. Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Summit Hotel Properties presently has an average rating of “Hold” and an average target price of $5.40.

Summit Hotel Properties Trading Up 1.2%

The business’s 50 day moving average price is $5.27 and its two-hundred day moving average price is $4.87. The company has a market capitalization of $679.99 million, a price-to-earnings ratio of -21.67 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.

Summit Hotel Properties (NYSE:INN) last released its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative net margin of 1.75% and a negative return on equity of 1.03%. The business had revenue of $185.05 million for the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Equities analysts forecast that Summit Hotel Properties, Inc. will post 0.72 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.1%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio is currently -110.34%.

Institutional Trading of Summit Hotel Properties

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