Craig J. Aniszewski Sells 40,000 Shares of Summit Hotel Properties Inc (NYSE:INN) Stock

Summit Hotel Properties Inc (NYSE:INN) COO Craig J. Aniszewski sold 40,000 shares of Summit Hotel Properties stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $11.60, for a total value of $464,000.00. Following the completion of the sale, the chief operating officer now owns 397,913 shares of the company’s stock, valued at $4,615,790.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of NYSE INN traded up $0.48 during trading on Wednesday, hitting $12.13. 1,291,751 shares of the company traded hands, compared to its average volume of 610,165. The business’s fifty day moving average is $11.27 and its 200 day moving average is $11.55. Summit Hotel Properties Inc has a fifty-two week low of $9.29 and a fifty-two week high of $13.62. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.24 and a current ratio of 1.24.

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

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date was Thursday, August 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 53.33%.

Several equities analysts have issued reports on INN shares. Capital One Financial began coverage on Summit Hotel Properties in a research note on Tuesday, June 25th. They issued an “equal weight” rating and a $13.00 price target on the stock. ValuEngine raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Zacks Investment Research lowered shares of Summit Hotel Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $13.40.

A number of large investors have recently made changes to their positions in INN. Wasatch Advisors Inc. raised its holdings in Summit Hotel Properties by 44.7% during the second quarter. Wasatch Advisors Inc. now owns 2,366,926 shares of the real estate investment trust’s stock worth $27,149,000 after buying an additional 730,933 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in shares of Summit Hotel Properties in the 1st quarter worth about $8,167,000. Morgan Stanley lifted its position in Summit Hotel Properties by 630.6% in the 2nd quarter. Morgan Stanley now owns 520,559 shares of the real estate investment trust’s stock valued at $5,971,000 after acquiring an additional 449,311 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Summit Hotel Properties by 16.5% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,927,687 shares of the real estate investment trust’s stock valued at $33,405,000 after acquiring an additional 413,811 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in Summit Hotel Properties by 63.9% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 934,663 shares of the real estate investment trust’s stock valued at $10,721,000 after acquiring an additional 364,376 shares in the last quarter.

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.

Read More: How to identify percentage decliners

Receive News & Ratings for Summit Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Hotel Properties and related companies with MarketBeat.com's FREE daily email newsletter.