Summit Hotel Properties, Inc. (NYSE:INN) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Summit Hotel Properties, Inc. (NYSE:INN) have earned a consensus recommendation of “Reduce” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $5.00.

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Summit Hotel Properties in a research note on Monday, December 29th. Robert W. Baird set a $5.00 price objective on Summit Hotel Properties in a research note on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft set a $6.00 price objective on shares of Summit Hotel Properties and gave the company a “buy” rating in a report on Tuesday, January 13th. Wall Street Zen downgraded shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Zacks Research cut shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th.

Summit Hotel Properties Stock Performance

NYSE INN opened at $4.48 on Friday. The company has a market capitalization of $486.99 million, a PE ratio of -27.98 and a beta of 1.29. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.65 and a current ratio of 0.65. Summit Hotel Properties has a 52-week low of $3.57 and a 52-week high of $6.76. The company has a 50-day simple moving average of $4.81 and a 200 day simple moving average of $5.21.

Summit Hotel Properties (NYSE:INN) last released its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $177.12 million during the quarter, compared to the consensus estimate of $179.03 million. Summit Hotel Properties had a net margin of 0.04% and a return on equity of 0.02%. On average, research analysts predict that Summit Hotel Properties will post 0.88 EPS for the current year.

Summit Hotel Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, February 13th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -200.00%.

Insider Buying and Selling at Summit Hotel Properties

In related news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $4.84, for a total transaction of $121,000.00. Following the sale, the director directly owned 444,295 shares in the company, valued at approximately $2,150,387.80. The trade was a 5.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Summit Hotel Properties by 4.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock valued at $337,000 after acquiring an additional 2,528 shares during the period. Jane Street Group LLC lifted its stake in Summit Hotel Properties by 1.7% in the 1st quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock worth $896,000 after purchasing an additional 2,793 shares in the last quarter. Amundi boosted its holdings in Summit Hotel Properties by 19.9% in the 3rd quarter. Amundi now owns 18,320 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 3,040 shares during the period. Bank of Montreal Can grew its position in shares of Summit Hotel Properties by 0.4% during the 2nd quarter. Bank of Montreal Can now owns 793,512 shares of the real estate investment trust’s stock valued at $4,039,000 after purchasing an additional 3,303 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Summit Hotel Properties by 53.6% in 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. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Company Profile

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.