Summit Hotel Properties (NYSE:INN) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Summit Hotel Properties (NYSE:INN) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $7.00 price target on shares of Summit Hotel Properties in a research note on Monday, June 8th. 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Stock Performance

NYSE INN opened at $6.92 on Wednesday. The company has a market cap of $749.53 million, a P/E ratio of -23.85 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50 day moving average price is $6.31 and its 200-day moving average price is $5.21. Summit Hotel Properties has a fifty-two week low of $3.97 and a fifty-two week high of $7.14.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $185.05 million during 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. Sell-side analysts predict that Summit Hotel Properties will post 0.74 earnings per share for the current year.

Institutional Investors Weigh In On Summit Hotel Properties

Hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Summit Hotel Properties during the third quarter valued at $35,000. Corient Private Wealth LLC purchased a new stake in Summit Hotel Properties in the fourth quarter worth about $52,000. CIBC Asset Management Inc bought a new position in Summit Hotel Properties during the 4th quarter worth about $52,000. Tower Research Capital LLC TRC increased its position in Summit Hotel Properties by 148.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 6,442 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Summit Hotel Properties by 53.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 3,773 shares in the last quarter. 96.47% of the stock is currently owned by hedge funds and other 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.