Summit Hotel Properties (NYSE:INN) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Summit Hotel Properties (NYSE:INN) from a hold rating to a sell rating in a report released on Saturday morning.

Several other brokerages also recently weighed in on INN. Bank of America boosted their target price on shares of Summit Hotel Properties from $5.00 to $5.75 and gave the company a “neutral” rating in a research note on Monday, July 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Summit Hotel Properties in a research note on Tuesday, October 14th. Robert W. Baird cut their target price on shares of Summit Hotel Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, October 3rd. Finally, Zacks Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $5.13.

Summit Hotel Properties Price Performance

Summit Hotel Properties stock opened at $5.34 on Friday. Summit Hotel Properties has a 52 week low of $3.57 and a 52 week high of $6.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm’s 50-day simple moving average is $5.51 and its 200 day simple moving average is $4.97. The firm has a market capitalization of $580.50 million, a PE ratio of -59.28 and a beta of 1.70.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. Summit Hotel Properties had a net margin of 1.00% and a return on equity of 0.56%. The business had revenue of $192.92 million for the quarter, compared to analyst estimates of $194.49 million. Summit Hotel Properties has set its FY 2025 guidance at 0.900-0.900 EPS. On average, equities research analysts predict that Summit Hotel Properties will post 0.88 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.0%. Summit Hotel Properties’s dividend payout ratio is currently -355.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Summit Hotel Properties by 453.0% during the 1st quarter. GAMMA Investing LLC now owns 8,218 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 6,732 shares during the last quarter. Signaturefd LLC increased its stake in shares of Summit Hotel Properties by 36.4% during the 2nd quarter. Signaturefd LLC now owns 8,656 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 2,309 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Summit Hotel Properties by 148.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 6,442 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Summit Hotel Properties by 53.6% during the 2nd 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. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Summit Hotel Properties by 119.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 11,438 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 6,229 shares during the period. Institutional investors and hedge funds 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.