The price of Summit Hotel Properties Inc. (NYSE:INN) shares last traded on Wall Street fell -4.61% to $5.79.
Based on available information, 5 analysts follow Summit Hotel Properties Inc. (NYSE:INN). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $11.00 and a low of $7.00, we find $8.00. Given the previous closing price of $6.07, this indicates a potential upside of 31.8 percent. INN stock price is now -10.95% away from the 50-day moving average and -20.27% away from the 200-day moving average. The market capitalization of the company currently stands at $595.73M.
Among analysts, 2 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $8.50 as their price target over the next twelve months.
With the price target maintained at $8, Robert W. Baird recently Downgraded its rating from Outperform to Neutral for Summit Hotel Properties Inc. (NYSE: INN).
In other news, Stanner Jonathan P, President, CEO & Director bought 21,870 shares of the company’s stock on Mar 16. The stock was bought for $150,903 at an average price of $6.90. Upon completion of the transaction, the President, CEO & Director now directly owns 1,217,705 shares in the company, valued at $7.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 16, Director Taitz Hope S bought 5,000 shares of the business’s stock. A total of $34,450 was incurred on buying the stock at an average price of $6.89. This leaves the insider owning 64,965 shares of the company worth $0.38 million. Insiders disposed of 163,441 shares of company stock worth roughly $0.95 million over the past 1 year. A total of 3.18% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in INN stock. A new stake in Summit Hotel Properties Inc. shares was purchased by ORION PORTFOLIO SOLUTIONS, LLC during the first quarter worth $1,023,000. ERGOTELES LLC invested $255,000 in shares of INN during the first quarter. In the first quarter, VERSOR INVESTMENTS LP acquired a new stake in Summit Hotel Properties Inc. valued at approximately $244,000. JACOBS LEVY EQUITY MANAGEMENT, INC acquired a new stake in INN for approximately $226,000. GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC purchased a new stake in INN valued at around $199,000 in the second quarter. In total, there are 311 active investors with 98.60% ownership of the company’s stock.
A candlestick chart of Summit Hotel Properties Inc. (NYSE: INN) showed a price of $6.08 on Thursday morning. During the past 12 months, Summit Hotel Properties Inc. has had a low of $6.01 and a high of $9.09. The fifty day moving average price for INN is $6.48 and a two-hundred day moving average price translates $7.25 for the stock.
The latest earnings results from Summit Hotel Properties Inc. (NYSE: INN) was released for Jun, 2023. According to the REIT – Hotel & Motel Company, earnings per share came in at -$0.01, missing analysts’ expectations of $0.13 by -0.14. This compares to $0.07 EPS in the same period last year. The net profit margin was -1.40% and return on equity was -1.00% for INN. The company reported revenue of $194.49 million for the quarter, compared to $183.25 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.14 percent. For the current quarter, analysts expect INN to generate $182.85M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/31/2023. Investors who held shares on 08/17/2023 were paid a $0.06 dividend. On an annualized basis, this represents a $0.24 dividend and a 4.15% percent yield. There was an ex-dividend date of 08/16/2023 for this dividend.
Summit Hotel Properties Inc.(INN) 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 May 3, 2023, the Company’s portfolio consisted of 103 assets, 61 of which are wholly owned, with a total of 15,334 guestrooms located in 24 states.
