Summit Hotel Properties (NYSE:INN) Reaches New 12-Month High – Still a Buy?

Summit Hotel Properties, Inc. (NYSE:INN) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $6.67 and last traded at $6.6460, with a volume of 1761188 shares traded. The stock had previously closed at $6.63.

Wall Street Analysts Forecast Growth

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

Summit Hotel Properties Price Performance

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average price of $5.48 and a 200 day moving average price of $4.92. The company has a market capitalization of $721.14 million, a P/E ratio of -22.95 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $185.05 million for the quarter, compared to the consensus estimate 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, equities analysts predict that Summit Hotel Properties, Inc. will post 0.74 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio is currently -110.34%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Summit Hotel Properties during the third quarter worth $35,000. Corient Private Wealth LLC acquired a new position in shares of Summit Hotel Properties in the fourth quarter valued at about $52,000. CIBC Asset Management Inc bought a new position in Summit Hotel Properties during the fourth quarter worth about $52,000. BNP Paribas Financial Markets increased 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 worth $55,000 after acquiring an additional 3,773 shares during the period. Finally, Tower Research Capital LLC TRC increased its position 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 worth $55,000 after acquiring an additional 6,442 shares during the period. 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.