Brokerages Set Summit Hotel Properties, Inc. (NYSE:INN) Price Target at $5.00

Summit Hotel Properties, Inc. (NYSE:INN) has been given an average rating of “Reduce” by the five analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.00.

INN has been the topic of several research reports. Zacks Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Deutsche Bank Aktiengesellschaft set a $6.00 target price on shares of Summit Hotel Properties and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Friday, March 27th. Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Robert W. Baird set a $5.00 price target on Summit Hotel Properties in a research note on Wednesday, December 17th.

Insider Activity

In related news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $4.84, for a total transaction of $121,000.00. Following the completion of the sale, the director owned 444,295 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. 3.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Summit Hotel Properties

Several large investors have recently bought and sold shares of the stock. Long Pond Capital LP bought a new stake in shares of Summit Hotel Properties during the 2nd quarter worth $47,846,000. Geode Capital Management LLC grew its position in Summit Hotel Properties by 1.8% during the second quarter. Geode Capital Management LLC now owns 2,877,261 shares of the real estate investment trust’s stock valued at $14,647,000 after buying an additional 50,295 shares during the period. GSA Capital Partners LLP purchased a new stake in Summit Hotel Properties during the third quarter worth about $860,000. Resona Asset Management Co. Ltd. raised its position in Summit Hotel Properties by 9.8% in the third quarter. Resona Asset Management Co. Ltd. now owns 48,355 shares of the real estate investment trust’s stock worth $269,000 after acquiring an additional 4,324 shares during the period. Finally, SG Americas Securities LLC raised its position in Summit Hotel Properties by 319.1% in the third quarter. SG Americas Securities LLC now owns 51,494 shares of the real estate investment trust’s stock worth $283,000 after acquiring an additional 39,208 shares during the period. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock opened at $4.38 on Friday. The business has a 50-day simple moving average of $4.41 and a 200 day simple moving average of $4.93. Summit Hotel Properties has a one year low of $3.57 and a one year high of $6.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market capitalization of $476 million, a price-to-earnings ratio of -19.02 and a beta of 1.23.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). Summit Hotel Properties had a negative net margin of 0.87% and a negative return on equity of 0.50%. The firm had revenue of $174.96 million during the quarter, compared to analyst estimates of $172.88 million. Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. On average, research analysts anticipate that Summit Hotel Properties will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Friday, February 13th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently -139.13%.

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.