Summit Hotel Properties, Inc. (NYSE:INN – Get Free Report) saw a significant decline in short interest in April. As of April 30th, there was short interest totaling 1,920,764 shares, a decline of 35.1% from the April 15th total of 2,958,547 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily volume of 895,039 shares, the days-to-cover ratio is presently 2.1 days.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Zacks Research upgraded Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.00.
Read Our Latest Analysis on INN
Summit Hotel Properties Price Performance
Summit Hotel Properties (NYSE:INN – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $185.05 million during the quarter, compared to the consensus estimate of $180.51 million. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.Summit Hotel Properties has set its FY 2026 guidance at 0.750-0.850 EPS. Equities analysts expect that Summit Hotel Properties will post 0.72 EPS for the current year.
Summit Hotel Properties Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, May 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is -110.34%.
Hedge Funds Weigh In On Summit Hotel Properties
A number of hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Summit Hotel Properties by 4.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 2,528 shares in the last quarter. Jane Street Group LLC boosted 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 worth $896,000 after purchasing an additional 2,793 shares in the last quarter. Amundi boosted 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 worth $100,000 after purchasing an additional 3,040 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of 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 worth $210,000 after purchasing an additional 3,261 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Summit Hotel Properties by 22.9% in 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 in the last quarter. 96.47% of the stock is currently owned by hedge funds and other 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.
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