Summit Hotel Properties Inc (INN) Receives Consensus Rating of “Hold” from Analysts
Shares of Summit Hotel Properties Inc (NYSE:INN) have earned a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $15.00.
Several equities analysts recently weighed in on the stock. Bank of America downgraded shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a report on Tuesday, October 23rd. ValuEngine downgraded shares of Summit Hotel Properties from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Thursday, October 4th. Deutsche Bank cut their price target on shares of Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Finally, Raymond James cut their price target on shares of Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 1st.
In related news, Chairman Daniel P. Hansen acquired 10,000 shares of the stock in a transaction on Friday, November 2nd. The shares were acquired at an average price of $11.35 per share, for a total transaction of $113,500.00. Following the transaction, the chairman now owns 1,001,155 shares in the company, valued at approximately $11,363,109.25. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.12% of the company’s stock.
Shares of INN traded up $0.06 during mid-day trading on Friday, hitting $10.45. 642,300 shares of the company traded hands, compared to its average volume of 856,138. Summit Hotel Properties has a 1-year low of $9.29 and a 1-year high of $16.15. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.10 billion, a P/E ratio of 7.80, a price-to-earnings-growth ratio of 5.60 and a beta of 1.37.
Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02). Summit Hotel Properties had a return on equity of 7.79% and a net margin of 16.76%. The business had revenue of $142.34 million during the quarter, compared to analyst estimates of $141.18 million. During the same quarter last year, the company posted $0.35 EPS. Summit Hotel Properties’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Summit Hotel Properties will post 1.26 EPS for the current fiscal year.
Summit Hotel Properties Company Profile
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 October 30, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,659 guestrooms located in 26 states.
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