Summit Hotel Properties (NYSE:INN) Reaches New 1-Year High – Here’s What Happened

Summit Hotel Properties, Inc. (NYSE:INN) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.39 and last traded at $6.3640, with a volume of 5356915 shares trading hands. The stock had previously closed at $6.20.

Analyst Ratings Changes

A number of analysts have recently issued reports on INN shares. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research upgraded Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th. Finally, Raymond James Financial reiterated 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 analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Summit Hotel Properties presently has a consensus rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Stock Up 2.6%

The business has a 50-day simple moving average of $5.31 and a two-hundred day simple moving average of $4.88. The stock has a market capitalization of $689.60 million, a P/E ratio of -21.94 and a beta of 1.29. 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 earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company 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. Equities research 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio is presently -110.34%.

Institutional Trading of Summit Hotel Properties

Several large investors have recently made changes to their positions in INN. Arrowstreet Capital Limited Partnership bought a new stake in shares of Summit Hotel Properties during the first quarter worth $8,624,000. UBS Group AG grew its holdings in shares of Summit Hotel Properties by 18.9% during the third quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock worth $38,079,000 after purchasing an additional 1,102,102 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Summit Hotel Properties by 87.2% during the fourth 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 during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Summit Hotel Properties by 12.4% during the fourth 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 period. Finally, Jane Street Group LLC lifted its stake in shares of Summit Hotel Properties by 275.3% during the fourth quarter. Jane Street Group LLC now owns 352,069 shares of the real estate investment trust’s stock valued at $1,715,000 after acquiring an additional 258,261 shares during the period. Institutional investors own 96.47% of the company’s stock.

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.