Summit Hotel Properties Inc. (NYSE:INN) has been given an average recommendation of “Buy” by the twelve ratings firms that are currently covering the firm. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.81.
Several equities research analysts have recently weighed in on the company. Deutsche Bank AG reiterated a “buy” rating on shares of Summit Hotel Properties in a research note on Sunday, June 26th. Canaccord Genuity reiterated a “buy” rating on shares of Summit Hotel Properties in a research note on Tuesday, August 2nd. Zacks Investment Research lowered Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 13th. Finally, JMP Securities upped their price objective on Summit Hotel Properties from $14.00 to $15.50 and gave the company a “market outperform” rating in a research note on Thursday, August 4th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in Summit Hotel Properties during the second quarter valued at about $144,000. PineBridge Investments L.P. increased its position in Summit Hotel Properties by 4.3% in the second quarter. PineBridge Investments L.P. now owns 11,064 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 459 shares in the last quarter. Raymond James Trust N.A. purchased a new position in Summit Hotel Properties during the second quarter valued at about $147,000. Intrust Bank NA purchased a new position in Summit Hotel Properties during the second quarter valued at about $149,000. Finally, M&T Bank Corp increased its position in Summit Hotel Properties by 7.8% in the first quarter. M&T Bank Corp now owns 13,326 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 962 shares in the last quarter. 94.66% of the stock is currently owned by hedge funds and other institutional investors.
Summit Hotel Properties (NYSE:INN) opened at 12.95 on Thursday. The firm has a market capitalization of $1.13 billion, a PE ratio of 7.45 and a beta of 0.98. The company has a 50 day moving average price of $13.59 and a 200-day moving average price of $12.86. Summit Hotel Properties has a one year low of $9.00 and a one year high of $14.58.
Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. Summit Hotel Properties had a return on equity of 19.19% and a net margin of 34.98%. The company had revenue of $127.19 million for the quarter, compared to analyst estimates of $127.70 million. During the same period in the prior year, the company posted $0.14 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts predict that Summit Hotel Properties will post $1.35 EPS for the current year.
Summit Hotel Properties Company Profile
Summit Hotel Properties, Inc is a holding company and conducts all of its operations through its Summit Hotel OP, LP (operating partnership). The Company is a real estate investments trust (REIT) and self-managed hotel investment company. The Company operates in the segment of activities related to investing in real estate.
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