Summit Hotel Properties (NYSE:INN) Stock Crosses Above 200 Day Moving Average – What’s Next?

Summit Hotel Properties, Inc. (NYSE:INN)’s share price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $5.82 and traded as high as $6.08. Summit Hotel Properties shares last traded at $6.0440, with a volume of 2,176,138 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INN. Zacks Research downgraded Summit Hotel Properties from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Weiss Ratings cut Summit Hotel Properties from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.40.

Summit Hotel Properties Stock Performance

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 company has a market cap of $654.13 million, a price-to-earnings ratio of -26.37 and a beta of 1.29. The firm’s 50-day moving average price is $5.98 and its 200 day moving average price is $5.82.

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

Summit Hotel Properties Dividend Announcement

The business also recently disclosed 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 dividend yield of 5.3%. Summit Hotel Properties’s payout ratio is -139.13%.

Institutional Investors Weigh In On Summit Hotel Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INN. Sequoia Financial Advisors LLC bought a new position in Summit Hotel Properties during the second quarter worth about $112,000. WINTON GROUP Ltd acquired a new position in shares of Summit Hotel Properties during the 2nd quarter worth about $432,000. Engineers Gate Manager LP bought a new stake in shares of Summit Hotel Properties in the 2nd quarter valued at about $317,000. Integrated Wealth Concepts LLC bought a new stake in shares of Summit Hotel Properties in the 2nd quarter valued at about $39,000. Finally, Corient Private Wealth LP raised its position in shares of Summit Hotel Properties by 593.6% in the 2nd quarter. Corient Private Wealth LP now owns 94,351 shares of the real estate investment trust’s stock valued at $661,000 after acquiring an additional 80,748 shares during the period. Institutional investors own 96.47% of the company’s stock.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a real estate investment trust focused on owning premium-branded, select-service hotels in the United States. Its properties are generally located in business, leisure and transportation-oriented markets and operate under nationally recognized hotel brands.

The company’s hotel portfolio has included properties affiliated with brands such as Marriott, Hilton, Hyatt and InterContinental Hotels Group. These hotels typically provide guest accommodations along with services and amenities such as breakfast, meeting space, fitness facilities and other offerings designed for business and leisure travelers.

Summit Hotel Properties was founded in 2003 and became a publicly traded company in 2011.