Zacks Research Downgrades Summit Hotel Properties (NYSE:INN) to Hold

Summit Hotel Properties (NYSE:INN) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

INN has been the topic of several other reports. Raymond James Financial restated an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a research report on Monday, June 8th. Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.40.

Summit Hotel Properties Price Performance

Summit Hotel Properties stock opened at $6.20 on Monday. Summit Hotel Properties has a one year low of $3.97 and a one year high of $7.17. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.71 and a current ratio of 0.71. The business has a fifty day moving average of $6.59 and a two-hundred day moving average of $5.50. The company has a market cap of $668.13 million, a P/E ratio of -26.93 and a beta of 1.26.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $199.02 million for the quarter, compared to analysts’ expectations of $198.41 million. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, analysts predict that Summit Hotel Properties will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INN. Quarry LP acquired a new stake in shares of Summit Hotel Properties during the 3rd quarter valued at approximately $35,000. Corient Private Wealth LLC acquired a new position in Summit Hotel Properties in the fourth quarter worth $52,000. CIBC Asset Management Inc acquired a new position in Summit Hotel Properties in the fourth quarter worth $52,000. BNP Paribas Financial Markets increased its stake in 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 valued at $55,000 after purchasing an additional 3,773 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Summit Hotel Properties by 148.1% during 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 last quarter. 96.47% of the stock is owned by institutional investors and hedge funds.

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.