Magnus Financial Group LLC bought a new stake in shares of Summit Hotel Properties Inc (NYSE:INN) in the 4th quarter, HoldingsChannel.com reports. The fund bought 15,141 shares of the real estate investment trust’s stock, valued at approximately $147,000.
Several other institutional investors have also made changes to their positions in INN. Pearl River Capital LLC bought a new position in shares of Summit Hotel Properties during the 4th quarter worth $36,000. Oregon Public Employees Retirement Fund bought a new position in shares of Summit Hotel Properties during the 4th quarter worth $40,000. Quantamental Technologies LLC bought a new position in shares of Summit Hotel Properties during the 4th quarter worth $75,000. CIBC Asset Management Inc bought a new position in shares of Summit Hotel Properties during the 4th quarter worth $132,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Summit Hotel Properties during the 3rd quarter worth $142,000. 99.72% of the stock is owned by hedge funds and other institutional investors.
INN stock opened at $11.21 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.17 billion, a PE ratio of 8.28 and a beta of 1.45. Summit Hotel Properties Inc has a fifty-two week low of $9.29 and a fifty-two week high of $15.61.
Several research firms have recently weighed in on INN. Zacks Investment Research upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. ValuEngine upgraded Summit Hotel Properties from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 6th. Finally, Bank of America downgraded Summit Hotel Properties from a “neutral” rating to an “underperform” rating in a research note on Monday, January 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.75.
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About Summit Hotel Properties
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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