Summit Hotel Properties (NYSE:INN) Upgraded at Zacks Research

Zacks Research upgraded shares of Summit Hotel Properties (NYSE:INN) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on INN. Raymond James Financial reiterated an “outperform” rating and issued a $7.00 price target on shares of Summit Hotel Properties in a research note on Monday, June 8th. Weiss Ratings upgraded shares of Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.40.

Summit Hotel Properties Stock Up 1.2%

Shares of NYSE INN opened at $7.00 on Wednesday. The business has a 50-day moving average of $6.34 and a two-hundred day moving average of $5.22. The company has a market capitalization of $757.98 million, a price-to-earnings ratio of -24.12 and a beta of 1.26. Summit Hotel Properties has a 1 year low of $3.97 and a 1 year high of $7.14. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.87.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The business had revenue of $185.05 million for the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. On average, analysts forecast that Summit Hotel Properties will post 0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 increased its holdings in shares of 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 valued at $896,000 after acquiring an additional 2,793 shares during the period. Amundi increased its holdings in shares of 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 acquiring an additional 3,040 shares during the period. Resona Asset Management Co. Ltd. raised its position in Summit Hotel Properties by 7.3% in the 1st 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 during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Summit Hotel Properties by 22.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust’s stock worth $92,000 after purchasing an additional 3,527 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

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.