Weiss Asset Management LP Acquires New Position in Summit Hotel Properties, Inc. $INN

Weiss Asset Management LP bought a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 115,474 shares of the real estate investment trust’s stock, valued at approximately $510,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INN. Quarry LP acquired a new position in Summit Hotel Properties in the 3rd quarter valued at $35,000. Corient Private Wealth LLC acquired a new stake in shares of Summit Hotel Properties during the fourth quarter worth $52,000. CIBC Asset Management Inc acquired a new stake in shares of Summit Hotel Properties during the fourth quarter worth $52,000. BNP Paribas Financial Markets grew its position in shares of Summit Hotel Properties by 53.6% in the second 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 during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Summit Hotel Properties by 148.1% in the second 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. 96.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research upgraded Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.40.

Summit Hotel Properties Stock Down 1.8%

Shares of INN opened at $6.89 on Tuesday. The firm has a market cap of $747.14 million, a PE ratio of -23.78 and a beta of 1.26. The company’s fifty day moving average is $6.37 and its two-hundred day moving average is $5.24. Summit Hotel Properties, Inc. has a fifty-two week low of $3.97 and a fifty-two 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 issued its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The business had revenue of $185.05 million for the quarter, compared to analyst estimates of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Analysts forecast that Summit Hotel Properties, Inc. will post 0.74 earnings per share for the current year.

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.