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.
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.
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