Summit Hotel Properties (NYSE:INN) Raised to “Hold” at Wall Street Zen

Summit Hotel Properties (NYSE:INN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other equities research analysts also recently commented on the stock. Robert W. Baird set a $5.00 target price on shares of Summit Hotel Properties in a research report on Wednesday, December 17th. Zacks Research downgraded Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Bank of America reaffirmed an “underperform” rating and issued a $4.50 price objective (down from $5.75) on shares of Summit Hotel Properties in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft set a $6.00 price objective on Summit Hotel Properties and gave the company a “buy” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $5.00.

Summit Hotel Properties Price Performance

NYSE INN opened at $4.51 on Friday. Summit Hotel Properties has a one year low of $3.57 and a one year high of $6.65. The stock has a 50-day moving average of $4.63 and a 200 day moving average of $5.12. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $490.14 million, a price-to-earnings ratio of -19.59 and a beta of 1.29.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Wednesday, February 25th. The real estate investment trust reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.24). Summit Hotel Properties had a negative net margin of 0.87% and a negative return on equity of 0.50%. The company had revenue of $174.96 million for the quarter, compared to analysts’ expectations of $172.88 million. Summit Hotel Properties has set its FY 2026 guidance at 0.730-0.850 EPS. On average, sell-side analysts forecast that Summit Hotel Properties will post 0.88 EPS for the current year.

Insider Buying and Selling

In other Summit Hotel Properties news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $4.84, for a total value of $121,000.00. Following the completion of the sale, the director owned 444,295 shares in the company, valued at $2,150,387.80. This represents a 5.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Long Pond Capital LP bought a new stake in Summit Hotel Properties during the 2nd quarter worth approximately $47,846,000. UBS Group AG increased its stake in shares of Summit Hotel Properties by 18.9% in the third quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock worth $38,079,000 after purchasing an additional 1,102,102 shares in the last quarter. State Street Corp increased its stake in shares of Summit Hotel Properties by 1.2% in the fourth quarter. State Street Corp now owns 4,911,087 shares of the real estate investment trust’s stock worth $23,917,000 after purchasing an additional 56,090 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Summit Hotel Properties by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,877,261 shares of the real estate investment trust’s stock valued at $14,647,000 after purchasing an additional 50,295 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Summit Hotel Properties by 12.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,542,670 shares of the real estate investment trust’s stock valued at $12,383,000 after buying an additional 279,823 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors.

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.