Summit Hotel Properties, Inc. (NYSE:INN) Receives $5.40 Consensus Price Target from Brokerages

Shares of Summit Hotel Properties, Inc. (NYSE:INN) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.40.

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Zacks Research cut shares of Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, 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.

Summit Hotel Properties Price Performance

Shares of NYSE:INN opened at $5.71 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.15. Summit Hotel Properties has a 12 month low of $3.97 and a 12 month high of $7.17. The stock has a market cap of $616.36 million, a P/E ratio of -24.85 and a beta of 1.24. The company has a 50 day moving average of $6.22 and a 200 day moving average of $5.68.

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

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a yield of 5.6%. Summit Hotel Properties’s dividend payout ratio is presently -139.13%.

Hedge Funds Weigh In On Summit Hotel Properties

Hedge funds have recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. raised its stake in Summit Hotel Properties by 7.3% during the first quarter. Resona Asset Management Co. Ltd. now owns 48,128 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 3,261 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Summit Hotel Properties in the 2nd quarter worth about $39,000. Hsbc Holdings PLC increased its holdings in shares of Summit Hotel Properties by 20.8% in the 2nd quarter. Hsbc Holdings PLC now owns 36,085 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 6,212 shares during the last quarter. CWC Advisors LLC. raised its position in shares of Summit Hotel Properties by 31.3% during the 1st quarter. CWC Advisors LLC. now owns 26,701 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 6,367 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Summit Hotel Properties during the 2nd quarter valued at about $71,000. 96.47% of the stock is currently owned by institutional investors.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a self-managed real estate investment trust (REIT) focused on owning premium-branded hotels in the upscale and upper-midscale segments. The company’s properties primarily operate under recognized hospitality brands, including those affiliated with Marriott International, Hilton, Hyatt Hotels and InterContinental Hotels Group.

Summit’s hotel portfolio is concentrated in the United States, with an emphasis on markets supported by business, leisure and other diverse sources of lodging demand.