Summit Hotel Properties, Inc. $INN Shares Sold by Strs Ohio

Strs Ohio reduced its position in Summit Hotel Properties, Inc. (NYSE:INN) by 84.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,800 shares of the real estate investment trust’s stock after selling 103,300 shares during the quarter. Strs Ohio’s holdings in Summit Hotel Properties were worth $83,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS Group AG lifted its holdings in Summit Hotel Properties by 18.9% during the 3rd quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock worth $38,079,000 after buying an additional 1,102,102 shares during the last quarter. State Street Corp increased its holdings in shares of Summit Hotel Properties by 1.2% in the 4th quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust’s stock valued at $23,917,000 after acquiring an additional 56,090 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Summit Hotel Properties by 12.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock valued at $12,383,000 after acquiring an additional 279,823 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Summit Hotel Properties by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,061 shares of the real estate investment trust’s stock valued at $7,334,000 after acquiring an additional 26,493 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Summit Hotel Properties by 87.2% during the 4th quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock valued at $3,772,000 after acquiring an additional 360,800 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on INN. Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Zacks Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Finally, Raymond James Financial restated an “outperform” rating and issued a $7.00 price target on shares of Summit Hotel Properties in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.40.

Summit Hotel Properties Stock Performance

Shares of INN stock opened at $6.58 on Tuesday. The company has a market cap of $712.47 million, a P/E ratio of -22.67 and a beta of 1.26. The business has a 50 day moving average of $6.08 and a two-hundred day moving average of $5.10. Summit Hotel Properties, Inc. has a 52 week low of $3.97 and a 52 week high of $7.14. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.16.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $185.05 million for the quarter, compared to analysts’ expectations 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. As a group, analysts anticipate that Summit Hotel Properties, Inc. will post 0.74 EPS for the current year.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.32 annualized dividend and a yield of 4.9%. Summit Hotel Properties’s dividend payout ratio (DPR) is currently -110.34%.

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.