Summit Hotel Properties (NYSE:INN) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Summit Hotel Properties (NYSE:INN) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05, FiscalAI reports. The firm had revenue of $199.02 million during the quarter, compared to the consensus estimate of $198.41 million. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%. Summit Hotel Properties updated its FY 2026 guidance to 0.790-0.850 EPS.

Summit Hotel Properties Price Performance

Summit Hotel Properties stock traded down $0.15 during mid-day trading on Thursday, reaching $6.67. The company had a trading volume of 829,666 shares, compared to its average volume of 1,314,266. Summit Hotel Properties has a 1 year low of $3.97 and a 1 year high of $7.17. 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 has a market capitalization of $722.22 million, a P/E ratio of -22.98 and a beta of 1.26. The stock’s 50-day simple moving average is $6.55 and its 200-day simple moving average is $5.35.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, August 17th. Summit Hotel Properties’s dividend payout ratio is presently -110.34%.

Institutional Investors Weigh In On Summit Hotel Properties

A number of institutional investors and hedge funds have recently modified their holdings of INN. Corient Private Wealth LLC purchased a new position in Summit Hotel Properties in the 4th quarter valued at approximately $52,000. Invesco Ltd. boosted its position in Summit Hotel Properties by 87.2% during the fourth quarter. Invesco Ltd. now owns 774,543 shares of the real estate investment trust’s stock worth $3,772,000 after purchasing an additional 360,800 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in Summit Hotel Properties by 22.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 3,527 shares during the last quarter. XTX Topco Ltd acquired a new stake in Summit Hotel Properties in the fourth quarter valued at $341,000. Finally, Virtus Investment Advisers LLC purchased a new position in shares of Summit Hotel Properties in the fourth quarter valued at $158,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

Analyst Ratings Changes

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

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.