Summit Hotel Properties (NYSE:INN) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Summit Hotel Properties (NYSE:INN) from a sell rating to a hold rating in a research note released on Thursday, ValuEngine reports.

INN has been the topic of several other reports. Capital One Financial assumed coverage on shares of Summit Hotel Properties in a research report on Tuesday, June 25th. They issued an equal weight rating and a $13.00 price target on the stock. Deutsche Bank reiterated a buy rating and issued a $14.00 price target on shares of Summit Hotel Properties in a research report on Sunday, April 21st. Zacks Investment Research upgraded shares of Summit Hotel Properties from a sell rating to a hold rating and set a $13.00 price target on the stock in a research report on Saturday, July 20th. Finally, TheStreet upgraded Summit Hotel Properties from a c rating to a b- rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Summit Hotel Properties currently has an average rating of Hold and a consensus target price of $13.40.

Shares of Summit Hotel Properties stock opened at $11.20 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $11.43 and its two-hundred day moving average price is $11.57. Summit Hotel Properties has a 52 week low of $9.29 and a 52 week high of $14.09. The stock has a market cap of $1.16 billion, a PE ratio of 8.30 and a beta of 1.22.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.43 EPS for the quarter, topping the consensus estimate of $0.34 by $0.09. Summit Hotel Properties had a net margin of 18.95% and a return on equity of 8.82%. The firm had revenue of $142.93 million for the quarter, compared to analysts’ expectations of $141.05 million. During the same period in the previous year, the business earned $0.40 earnings per share. Summit Hotel Properties’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts predict that Summit Hotel Properties will post 1.2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 6.43%. Summit Hotel Properties’s payout ratio is presently 53.33%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mason Street Advisors LLC raised its holdings in Summit Hotel Properties by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 33,652 shares of the real estate investment trust’s stock worth $384,000 after buying an additional 1,118 shares during the period. CWM Advisors LLC raised its holdings in Summit Hotel Properties by 8.5% during the 2nd quarter. CWM Advisors LLC now owns 14,840 shares of the real estate investment trust’s stock worth $170,000 after buying an additional 1,160 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Summit Hotel Properties by 7.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,970 shares of the real estate investment trust’s stock worth $183,000 after buying an additional 1,170 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Summit Hotel Properties by 4.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 29,325 shares of the real estate investment trust’s stock worth $336,000 after buying an additional 1,178 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Summit Hotel Properties by 1.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 66,400 shares of the real estate investment trust’s stock worth $762,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 99.87% of the company’s stock.

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 April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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