Shares of Summit Hotel Properties, Inc. (NYSE:INN – Get Rating) received a consensus recommendation of “Hold” from the seven ratings companies that currently cover the stock, Marketbeat.com reports. Two research analysts rated the stock with a sell recommendation, one gave the company a hold recommendation and three gave the company a buy recommendation. The 1-year average price target among brokers who have hedged the stock over the past year is $11.30.
Several research analysts recently commented on the title. KeyCorp raised its price target on Summit Hotel Properties shares from $11.00 to $12.00 and gave the company an “overweight” rating in a Thursday, January 13 report. TheStreet upgraded shares of Summit Hotel Properties from a “d+” rating to a “c-” rating in a Tuesday, March 1 report. Finally, Zacks Investment Research downgraded shares of Summit Hotel Properties from a “strong buy” rating to a “hold” rating in a report on Wednesday, February 9.
A number of large investors have recently changed their holdings in the company. State Street Corp increased its position in Summit Hotel Properties by 7.3% in the fourth quarter. State Street Corp now owns 6,191,987 shares of the real estate investment trust valued at $60,434,000 after acquiring an additional 422,233 shares last quarter. Jennison Associates LLC increased its position in shares of Summit Hotel Properties by 17.0% during the fourth quarter. Jennison Associates LLC now owns 4,657,048 shares of the real estate investment trust worth $45,453,000 after purchasing an additional 678,259 shares last quarter. GW&K Investment Management LLC increased its position in Summit Hotel Properties shares by 2.7% during the first quarter. GW&K Investment Management LLC now owns 3,561,371 shares of the real estate investment trust worth $35,471,000 after purchasing an additional 95,316 shares in the last quarter. Geode Capital Management LLC increased its position in Summit Hotel Properties shares by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,161,614 shares of the real estate investment trust worth $20,816,000 after purchasing an additional 29,650 shares last quarter. Finally, Victory Capital Management Inc. increased its position in Summit Hotel Properties shares by 1.4% during the first quarter. Victory Capital Management Inc. now owns 2,087,267 shares of the real estate investment trust worth $20,781,000 after purchasing an additional 29,255 shares last quarter. 99.19% of the shares are held by institutional investors.
INN shares opened at $8.87 on Wednesday. The stock has a market capitalization of $949.67 million, a price/earnings ratio of -15.29, a P/E/G ratio of 0.21 and a beta of 2.03. Summit Hotel Properties has a 1 year minimum of $8.22 and a 1 year maximum of $10.94. The company has a debt ratio of 1.01, a quick ratio of 1.58 and a current ratio of 1.77. The company’s 50-day moving average is $9.69.
Summit Hotel Properties (NYSE:INN – Get Rating) last released its quarterly results on Tuesday, May 3. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.16 per ($0.28). Summit Hotel Properties recorded a negative net margin of 9.56% and a negative return on equity of 3.59%. In the same quarter a year earlier, the company posted ($0.07) earnings per share. As a group, stock analysts expect Summit Hotel Properties to post earnings per share of 0.88 for the current year.
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.
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