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.

A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its position in Summit Hotel Properties by 1.7% in the 4th quarter. State of Alaska Department of Revenue now owns 68,735 shares of the real estate investment trust’s stock worth $667,000 after purchasing an additional 1,127 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Summit Hotel Properties by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 13,826,656 shares of the real estate investment trust’s stock valued at $187,074,000 after buying an additional 77,873 shares in the last quarter. Federated Investors Inc. PA lifted its position in shares of Summit Hotel Properties by 18.3% during the 3rd quarter. Federated Investors Inc. PA now owns 869,699 shares of the real estate investment trust’s stock valued at $11,767,000 after buying an additional 134,337 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Summit Hotel Properties during the 3rd quarter valued at approximately $407,000. Finally, Clearbridge Investments LLC lifted its position in shares of Summit Hotel Properties by 1,036,353.0% during the 3rd quarter. Clearbridge Investments LLC now owns 1,565,044 shares of the real estate investment trust’s stock valued at $21,175,000 after buying an additional 1,564,893 shares in the last quarter. Institutional investors and hedge funds own 99.87% 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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Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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