Summit Hotel Properties (NYSE:INN) Reaches New 52-Week High – Here’s What Happened

Summit Hotel Properties, Inc. (NYSE:INN)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $7.20 and last traded at $7.0090, with a volume of 730 shares traded. The stock had previously closed at $7.07.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INN. Raymond James Financial reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of Summit Hotel Properties in a research note on Monday, June 8th. Zacks Research raised Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Finally, 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. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Summit Hotel Properties has an average rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Stock Up 0.4%

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $768.81 million, a P/E ratio of -24.47 and a beta of 1.29. The stock has a 50 day moving average price of $5.68 and a 200 day moving average price of $4.98.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, research analysts anticipate that Summit Hotel Properties, Inc. will post 0.74 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Friday, May 15th. Summit Hotel Properties’s payout ratio is -110.34%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Summit Hotel Properties during the 3rd quarter worth approximately $35,000. Corient Private Wealth LLC acquired a new position in Summit Hotel Properties in the 4th quarter valued at approximately $52,000. CIBC Asset Management Inc bought a new position in shares of Summit Hotel Properties during the fourth quarter valued at $52,000. BNP Paribas Financial Markets lifted its holdings in shares of Summit Hotel Properties by 53.6% during the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 3,773 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake 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 worth $55,000 after purchasing an additional 6,442 shares during the last quarter. Institutional investors own 96.47% of the company’s stock.

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.