Y Intercept Hong Kong Ltd Purchases 235,699 Shares of Summit Hotel Properties, Inc. $INN

Y Intercept Hong Kong Ltd raised its position in Summit Hotel Properties, Inc. (NYSE:INN) by 717.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,530 shares of the real estate investment trust’s stock after buying an additional 235,699 shares during the period. Y Intercept Hong Kong Ltd owned 0.25% of Summit Hotel Properties worth $1,187,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Summit Hotel Properties in the third quarter valued at approximately $35,000. CIBC Asset Management Inc bought a new stake in Summit Hotel Properties during the 4th quarter worth approximately $52,000. Corient Private Wealth LLC acquired a new stake in Summit Hotel Properties during the 4th quarter valued at $52,000. BNP Paribas Financial Markets increased its holdings in Summit Hotel Properties by 53.6% during 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. Finally, Tower Research Capital LLC TRC raised its position in Summit Hotel Properties by 148.1% in 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 last quarter. 96.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INN has been the topic of several research analyst reports. Zacks Research upgraded Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings raised Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Finally, Raymond James Financial reiterated an “outperform” rating and set 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 issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.40.

Summit Hotel Properties Trading Down 0.4%

Shares of NYSE INN traded down $0.03 during midday trading on Friday, hitting $6.46. The stock had a trading volume of 490,130 shares, compared to its average volume of 1,929,107. The firm has a market cap of $699.46 million, a P/E ratio of -22.26 and a beta of 1.26. 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 debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day simple moving average is $6.05 and its 200 day simple moving average is $5.09.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate 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. Research analysts anticipate that Summit Hotel Properties, Inc. will post 0.74 EPS for the current year.

Summit Hotel Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, May 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is -110.34%.

Summit Hotel Properties 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.