Summit Hotel Properties Rating Lowered to Underperform at Zacks (INN)
Summit Hotel Properties (NYSE:INN) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, ARN reports. They currently have a $9.00 price target on the stock. Zacks‘s price target would indicate a potential downside of 4.76% from the stock’s previous close.
Separately, analysts at Raymond James raised their price target on shares of Summit Hotel Properties from $10.00 to $10.50 in a research note on Tuesday. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $10.50.
Shares of Summit Hotel Properties (NYSE:INN) traded down 0.32% on Tuesday, hitting $9.45. 648,049 shares of the company’s stock traded hands. Summit Hotel Properties has a 1-year low of $8.50 and a 1-year high of $10.49. The stock has a 50-day moving average of $9. and a 200-day moving average of $9.03. The company’s market cap is $808.2 million.
Summit Hotel Properties (NYSE:INN) last released its earnings data on Monday, May 12th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.01) by $0.20. The company had revenue of $89.50 million for the quarter, compared to the consensus estimate of $87.33 million. Summit Hotel Properties’s revenue was up 49.9% compared to the same quarter last year. On average, analysts predict that Summit Hotel Properties will post $0.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Wednesday, May 14th.
Summit Hotel Properties, Inc (NYSE:INN) is a real estate investment trust and a hotel investment company.
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