Capital One Financial Comments on Summit Hotel Properties, Inc.’s First Quarter 2022 Results (NYSE:INN)

Summit Hotel Properties, Inc. (NYSE: INN – Get a rating) – Stock analysts Capital One Financial cut their first-quarter 2022 earnings per share (EPS) estimates for shares of Summit Hotel Properties in a report released Thursday, March 31. Capital One Financial analyst N. Malkin now expects the real estate investment trust to post earnings of $0.11 per share for the quarter, down from its previous estimate of $0.16. Summit Hotel Properties (NYSE: INN – Get a rating) last released its quarterly results on Wednesday, February 23. The real estate investment trust reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.13 per ($0.28). Summit Hotel Properties had a negative return on equity of 6.14% and a negative net margin of 18.12%. In the same quarter of the previous year, the company posted EPS of ($0.14).

INN has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Summit Hotel Properties from a “strong buy” rating to a “hold” rating in a Wednesday, Feb. 9 research note. KeyCorp raised its price target on Summit Hotel Properties shares from $11.00 to $12.00 and gave the stock an “overweight” rating in a Thursday, January 13 report. Finally, TheStreet upgraded shares of Summit Hotel Properties from a “d+” rating to a “c-” rating in a Tuesday, March 1 report. Two equity research analysts rated the stock with a sell rating, one issued a hold rating and three assigned the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.08.

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Shares of NYSE:INN opened at $10.17 on Monday. The company’s 50-day simple moving average is $9.82. Summit Hotel Properties has a 1 year minimum of $8.22 and a 1 year maximum of $10.94. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt ratio of 0.97. The company has a market capitalization of $1.08 billion, a PE ratio of -12.71, a growth price-earnings ratio of 0.20 and a beta of 2.19.

Several institutional investors have recently increased or reduced their stake in the company. Norges Bank acquired a new stock position in Summit Hotel Properties in the fourth quarter worth approximately $8,817,000. EverSource Wealth Advisors LLC acquired a new position in Summit Hotel Properties during the fourth quarter worth $47,000. NewEdge Advisors LLC increased its holdings in Summit Hotel Properties by 6.3% during the fourth quarter. NewEdge Advisors LLC now owns 84,925 shares of the real estate investment trust worth $829,000 after buying an additional 5,000 shares in the last quarter. California State Teachers Retirement System increased its holdings in Summit Hotel Properties by 2.6% during the fourth quarter. California State Teachers Retirement System now owns 146,266 shares of the real estate investment trust worth $1,428,000 after buying 3,694 additional shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Summit Hotel Properties by 1.0% during the fourth quarter. Parametric Portfolio Associates LLC now owns 1,077,466 shares of the real estate investment trust worth $10,516,000 after purchasing an additional 10,334 shares in the last quarter. Institutional investors hold 99.82% of the company’s shares.

About Summit Hotel Properties (Get a rating)

Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium branded hotels with efficient operating models primarily in the upscale segment of the lodging industry . As of November 3, 2020, the Company’s portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 rooms located in 23 states.

Further reading

Earnings history and estimates for Summit Hotel Properties (NYSE:INN)

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