Advisor Group Inc. decreased its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 35.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,001 shares of the real estate investment trust’s stock after selling 4,416 shares during the period. Advisor Group Inc.’s holdings in Summit Hotel Properties were worth $128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INN. Pacad Investment Ltd. acquired a new position in Summit Hotel Properties during the 2nd quarter worth approximately $114,000. Riverhead Capital Management LLC increased its position in Summit Hotel Properties by 120.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,828 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 3,728 shares during the period. GAM Holding AG increased its position in Summit Hotel Properties by 25.7% during the 2nd quarter. GAM Holding AG now owns 8,803 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 1,800 shares during the period. LS Investment Advisors LLC increased its position in Summit Hotel Properties by 5.4% during the 2nd quarter. LS Investment Advisors LLC now owns 8,995 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 459 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in Summit Hotel Properties by 20.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,982 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 1,506 shares during the period. Institutional investors own 95.76% of the company’s stock.

INN has been the topic of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Summit Hotel Properties in a research report on Friday, August 25th. Zacks Investment Research cut Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Raymond James Financial upgraded Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price target on the stock in a report on Monday, October 30th. Deutsche Bank restated a “buy” rating and issued a $17.00 price target (down previously from $19.00) on shares of Summit Hotel Properties in a report on Wednesday, August 9th. Finally, Janney Montgomery Scott cut Summit Hotel Properties from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.50.

Shares of Summit Hotel Properties, Inc. (INN) opened at $15.09 on Friday. The firm has a market capitalization of $1,575.62, a P/E ratio of 11.36 and a beta of 1.19. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.64. Summit Hotel Properties, Inc. has a fifty-two week low of $14.08 and a fifty-two week high of $19.39.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $135.69 million. Summit Hotel Properties had a return on equity of 8.96% and a net margin of 20.21%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. analysts expect that Summit Hotel Properties, Inc. will post 1.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Wednesday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 82.93%.

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Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 79 hotels with a total of 11,590 guestrooms located in 24 states.

Institutional Ownership by Quarter for Summit Hotel Properties (NYSE:INN)

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