Summit Hotel Properties Stock Market Value
| INN Stock | USD 6.52 0.02 0.31% |
| Symbol | Summit |
Summit Hotel Properties Price To Book Ratio
Is Hotel & Resort REITs space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Summit Hotel. If investors know Summit will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Summit Hotel listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.79) | Dividend Share 0.28 | Earnings Share 0.05 | Revenue Per Share 6.957 | Quarterly Revenue Growth (0.03) |
The market value of Summit Hotel Properties is measured differently than its book value, which is the value of Summit that is recorded on the company's balance sheet. Investors also form their own opinion of Summit Hotel's value that differs from its market value or its book value, called intrinsic value, which is Summit Hotel's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Summit Hotel's market value can be influenced by many factors that don't directly affect Summit Hotel's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Summit Hotel's value and its price as these two are different measures arrived at by different means. Investors typically determine if Summit Hotel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Summit Hotel's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Summit Hotel 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Summit Hotel's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Summit Hotel.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Summit Hotel on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Summit Hotel Properties or generate 0.0% return on investment in Summit Hotel over 30 days. Summit Hotel is related to or competes with Diamondrock Hospitality, RLJ Lodging, Pebblebrook Hotel, Sunstone Hotel, RLJ Lodging, Ryman Hospitality, and Chatham Lodging. Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels... More
Summit Hotel Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Summit Hotel's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Summit Hotel Properties upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.66 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 10.45 | |||
| Value At Risk | (2.41) | |||
| Potential Upside | 3.37 |
Summit Hotel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Summit Hotel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Summit Hotel's standard deviation. In reality, there are many statistical measures that can use Summit Hotel historical prices to predict the future Summit Hotel's volatility.| Risk Adjusted Performance | 0.0062 | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.31) | |||
| Sortino Ratio | (0.08) | |||
| Treynor Ratio | (0.01) |
Summit Hotel Properties Backtested Returns
Summit Hotel Properties owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0119, which indicates the firm had a -0.0119% return per unit of risk over the last 3 months. Summit Hotel Properties exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Summit Hotel's Semi Deviation of 1.62, risk adjusted performance of 0.0062, and Coefficient Of Variation of 631753.2 to confirm the risk estimate we provide. The entity has a beta of 1.59, which indicates a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Summit Hotel will likely underperform. At this point, Summit Hotel Properties has a negative expected return of -0.0238%. Please make sure to validate Summit Hotel's semi variance, and the relationship between the treynor ratio and daily balance of power , to decide if Summit Hotel Properties performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.85 |
Very good predictability
Summit Hotel Properties has very good predictability. Overlapping area represents the amount of predictability between Summit Hotel time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Summit Hotel Properties price movement. The serial correlation of 0.85 indicates that around 85.0% of current Summit Hotel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.85 | |
| Spearman Rank Test | 0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Summit Hotel Properties lagged returns against current returns
Autocorrelation, which is Summit Hotel stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Summit Hotel's stock expected returns. We can calculate the autocorrelation of Summit Hotel returns to help us make a trade decision. For example, suppose you find that Summit Hotel has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Summit Hotel regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Summit Hotel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Summit Hotel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Summit Hotel stock over time.
Current vs Lagged Prices |
| Timeline |
Summit Hotel Lagged Returns
When evaluating Summit Hotel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Summit Hotel stock have on its future price. Summit Hotel autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Summit Hotel autocorrelation shows the relationship between Summit Hotel stock current value and its past values and can show if there is a momentum factor associated with investing in Summit Hotel Properties.
Regressed Prices |
| Timeline |
Pair Trading with Summit Hotel
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Summit Hotel position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Summit Hotel will appreciate offsetting losses from the drop in the long position's value.Moving against Summit Stock
| 0.55 | WELL | Welltower | PairCorr |
| 0.45 | AKR | Acadia Realty Trust | PairCorr |
| 0.44 | UE | Urban Edge Properties | PairCorr |
| 0.36 | ADC | Agree Realty | PairCorr |
The ability to find closely correlated positions to Summit Hotel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Summit Hotel when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Summit Hotel - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Summit Hotel Properties to buy it.
The correlation of Summit Hotel is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Summit Hotel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Summit Hotel Properties moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Summit Hotel can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Summit Hotel Correlation, Summit Hotel Volatility and Summit Hotel Alpha and Beta module to complement your research on Summit Hotel. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Summit Hotel technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.