Truist Financial Corp holds a $2.60 million position in Summit Hotel Properties, Inc. (NYSE:INN)

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Truist Financial Corp raised its position in shares of Summit Hotel Properties, Inc. (NYSE: INN – Get Rating) by 2.8% during the 1st quarter, according to the company in its latest filing 13F with the Securities & Exchange Commission. The company held 260,583 shares of the real estate investment trust after purchasing an additional 7,118 shares during the quarter. Truist Financial Corp’s holdings in Summit Hotel Properties were worth $2,595,000 at the end of the last quarter.

Other large investors have also recently increased or reduced their stake in the company. EverSource Wealth Advisors LLC acquired a new stock position in Summit Hotel Properties in the fourth quarter worth $47,000. Van ECK Associates Corp increased its stake in shares of Summit Hotel Properties by 66.9% in the fourth quarter. Van ECK Associates Corp now owns 8,074 shares of the real estate investment trust worth $79,000 after acquiring 3,237 additional shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Summit Hotel Properties by 33.6% in the fourth quarter. Schroder Investment Management Group now owns 8,934 shares of the real estate investment trust worth $87,000 after acquiring 2,248 additional shares in the last quarter. Journey Strategic Wealth LLC acquired a new stock position in Summit Hotel Properties in the fourth quarter worth $106,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stock position in Summit Hotel Properties in the first quarter worth $140,000. 99.19% of the shares are held by institutional investors and hedge funds.

A Wall Street analyst gives his opinion

Separately, TheStreet downgraded shares of Summit Hotel Properties from a “c-” rating to a “d+” rating in a Wednesday, July 13 research note. Two investment analysts gave the stock a sell rating and three gave the company a buy rating. According to MarketBeat.com, Summit Hotel Properties currently has an average rating of “Hold” and a consensus target price of $11.30.

Summit hotel properties are trading up 1.9%

Shares of NYSE:INN opened at $7.55 on Tuesday. The stock has a market capitalization of $806.53 million, a PE ratio of -13.02 and a beta of 2.03. Summit Hotel Properties, Inc. has a 1 year minimum of $6.70 and a 1 year maximum of $10.94. The company has a fifty-day moving average price of $8.00 and a 200-day moving average price of $9.14. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt ratio of 1.01.

Summit Hotel Properties (NYSE:INN – Get Rating) last released quarterly earnings data on Tuesday, May 3. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing analyst consensus estimates of $0.16 per ($0.28). Summit Hotel Properties had a negative return on equity of 3.59% and a negative net margin of 9.56%. In the same quarter a year earlier, the company had earned earnings per share of $0.07. Analysts expect Summit Hotel Properties, Inc. to post EPS of 0.95 for the current fiscal year.

Summit Hotel Property Profile

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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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Want to see which other hedge funds hold INN? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Summit Hotel Properties, Inc. (NYSE:INN – Get Rating).

Institutional ownership by quarter for Summit Hotel Properties (NYSE:INN)



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