Summit Hotel Properties (NYSE:INN) Given Sell (D+) Rating at Weiss Ratings

Weiss Ratings reissued their sell (d+) rating on shares of Summit Hotel Properties (NYSE:INN) in a report published on Tuesday,Weiss Ratings reports.

A number of other equities analysts have also weighed in on INN. Robert W. Baird dropped their price target on shares of Summit Hotel Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, October 3rd. Zacks Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Bank of America boosted their target price on shares of Summit Hotel Properties from $5.00 to $5.75 and gave the stock a “neutral” rating in a report on Monday, July 21st. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $5.13.

Summit Hotel Properties Stock Performance

NYSE:INN opened at $5.42 on Tuesday. The stock has a 50-day simple moving average of $5.49 and a two-hundred day simple moving average of $4.96. Summit Hotel Properties has a 52-week low of $3.57 and a 52-week high of $6.99. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $589.20 million, a PE ratio of -60.17 and a beta of 1.70.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. The business had revenue of $192.92 million for the quarter, compared to the consensus estimate of $194.49 million. Summit Hotel Properties had a net margin of 1.00% and a return on equity of 0.56%. Summit Hotel Properties has set its FY 2025 guidance at 0.900-0.900 EPS. Analysts forecast that Summit Hotel Properties will post 0.88 EPS for the current year.

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.9%. The ex-dividend date was Friday, August 15th. Summit Hotel Properties’s payout ratio is currently -355.56%.

Institutional Investors Weigh In On Summit Hotel Properties

Large investors have recently bought and sold shares of the business. Long Pond Capital LP bought a new position in Summit Hotel Properties during the second quarter valued at $47,846,000. Nuveen LLC bought a new position in Summit Hotel Properties during the first quarter valued at $16,641,000. Strs Ohio increased its position in Summit Hotel Properties by 3,028.7% during the second quarter. Strs Ohio now owns 588,200 shares of the real estate investment trust’s stock valued at $2,994,000 after acquiring an additional 569,400 shares during the last quarter. Invesco Ltd. increased its position in Summit Hotel Properties by 75.0% during the first quarter. Invesco Ltd. now owns 784,585 shares of the real estate investment trust’s stock valued at $4,245,000 after acquiring an additional 336,150 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Summit Hotel Properties during the first quarter valued at $1,541,000. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company’s portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.