Summit Hotel Properties (NYSE:INN) Trading 9.9% Higher – Still a Buy?

Shares of Summit Hotel Properties, Inc. (NYSE:INN) traded up 9.9% during trading on Thursday . The company traded as high as $4.70 and last traded at $4.7050. 490,065 shares traded hands during trading, a decline of 36% from the average session volume of 766,444 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird set a $5.00 target price on shares of Summit Hotel Properties in a report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Monday, December 29th. Zacks Research lowered shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Bank of America reissued an “underperform” rating and issued a $4.50 price target (down from $5.75) on shares of Summit Hotel Properties in a report on Tuesday, November 4th. Finally, Summit Redstone set a $4.50 price target on shares of Summit Hotel Properties in a report on Tuesday, November 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $5.00.

Summit Hotel Properties Trading Up 9.5%

The stock’s 50 day simple moving average is $4.65 and its 200 day simple moving average is $5.13. The firm has a market cap of $509.73 million, a PE ratio of -29.28 and a beta of 1.29. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.65 and a current ratio of 0.65.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). The company had revenue of $174.96 million for the quarter, compared to the consensus estimate of $172.88 million. Summit Hotel Properties had a return on equity of 0.02% and a net margin of 0.04%.Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. On average, sell-side analysts forecast that Summit Hotel Properties, Inc. will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 13th. This represents a $0.32 annualized dividend and a dividend yield of 6.8%. Summit Hotel Properties’s dividend payout ratio is -200.00%.

Insiders Place Their Bets

In other Summit Hotel Properties news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $4.84, for a total value of $121,000.00. Following the completion of the sale, the director owned 444,295 shares of the company’s stock, valued at $2,150,387.80. This represents a 5.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Summit Hotel Properties

A number of hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in shares of Summit Hotel Properties during the 2nd quarter valued at $892,000. Asset Management One Co. Ltd. boosted its position in Summit Hotel Properties by 2.9% during the second quarter. Asset Management One Co. Ltd. now owns 160,824 shares of the real estate investment trust’s stock valued at $819,000 after buying an additional 4,483 shares during the period. Long Pond Capital LP bought a new position in shares of Summit Hotel Properties during the second quarter valued at about $47,846,000. Penserra Capital Management LLC bought a new stake in shares of Summit Hotel Properties in the 2nd quarter valued at about $1,257,000. Finally, Strs Ohio lifted its stake in shares of Summit Hotel Properties by 3,028.7% in the 2nd quarter. Strs Ohio now owns 588,200 shares of the real estate investment trust’s stock valued at $2,994,000 after acquiring an additional 569,400 shares during the last quarter. 96.47% of the stock is currently owned by institutional investors.

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.