Key Points
- Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of Summit Hotel Properties on Jan. 5 at an average price of $4.84 for about $121,000, cutting his stake by 5.33% to 444,295 shares; he also sold 10,000 shares on Dec. 18 at $5.12.
- Shares trade near $4.88 with a 50‑day average of $5.13 and 200‑day average of $5.32, a 52‑week range of $3.57–$6.96, market cap around $530M, and a negative P/E of -30.47.
- The REIT pays a quarterly $0.08 dividend (annualized $0.32, about a 6.6% yield) but shows a negative payout ratio, and analysts hold a consensus "Reduce" rating with an average price target of $4.67.
Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 444,295 shares of the company's stock, valued at approximately $2,150,387.80. The trade was 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 link.
Mehulkumar Bhikhubhai Patel also recently made the following trade(s):
- On Thursday, December 18th, Mehulkumar Bhikhubhai Patel sold 10,000 shares of Summit Hotel Properties stock. The shares were sold at an average price of $5.12, for a total value of $51,200.00.
Summit Hotel Properties Stock Performance
Shares of NYSE:INN opened at $4.88 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.65 and a quick ratio of 0.65. The business's fifty day moving average price is $5.13 and its two-hundred day moving average price is $5.32. Summit Hotel Properties, Inc. has a fifty-two week low of $3.57 and a fifty-two week high of $6.96. The stock has a market capitalization of $530.40 million, a price-to-earnings ratio of -30.47 and a beta of 1.31.
Summit Hotel Properties (NYSE:INN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. Summit Hotel Properties had a return on equity of 0.02% and a net margin of 0.04%.The company had revenue of $177.12 million during the quarter, compared to analysts' expectations of $179.03 million. As a group, analysts predict that Summit Hotel Properties, Inc. will post 0.88 EPS for the current fiscal year.
Summit Hotel Properties Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a $0.08 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 6.6%. Summit Hotel Properties's payout ratio is -200.00%.
Analyst Ratings Changes
Several research firms have recently weighed in on INN. Robert W. Baird set a $5.00 price objective on shares of Summit Hotel Properties in a report on Wednesday, December 17th. Wall Street Zen lowered Summit Hotel Properties from a "hold" rating to a "sell" rating in a research note on Saturday, October 18th. Summit Redstone set a $4.50 price objective on shares of Summit Hotel Properties in a research report on Tuesday, November 4th. Zacks Research raised Summit Hotel Properties from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 21st. Finally, Bank of America reiterated an "underperform" rating and issued a $4.50 price objective (down from $5.75) on shares of Summit Hotel Properties in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $4.67.
Get Our Latest Research Report on INN
Institutional Investors Weigh In On Summit Hotel Properties
Institutional investors have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. bought a new stake in Summit Hotel Properties in the third quarter valued at about $64,000. NewEdge Advisors LLC grew its position in shares of Summit Hotel Properties by 11,110.9% during the 3rd quarter. NewEdge Advisors LLC now owns 71,862 shares of the real estate investment trust's stock worth $395,000 after buying an additional 71,221 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Summit Hotel Properties by 4.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 256,856 shares of the real estate investment trust's stock valued at $1,432,000 after acquiring an additional 11,967 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at about $150,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at approximately $220,000. 96.47% of the stock is owned by institutional investors and hedge funds.
About Summit Hotel Properties
(
Get Free Report)
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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