Summit Hotel Properties Price Target Raised to $12.00 at RBC Capital (INN)
Stock analysts at RBC Capital raised their price target on shares of Summit Hotel Properties (NYSE:INN) from $11.00 to $12.00 in a report issued on Friday. RBC Capital’s target price suggests a potential upside of 10.91% from the company’s current price.
A number of other analysts have also recently weighed in on INN. Analysts at Raymond James reiterated an “outperform” rating on shares of Summit Hotel Properties in a research note on Friday. They now have a $11.50 price target on the stock, up previously from $10.50. Separately, analysts at Robert W. Baird raised their price target on shares of Summit Hotel Properties from $11.00 to $12.00 in a research note on Wednesday, July 23rd. Finally, analysts at MLV & Co
raised their price target on shares of Summit Hotel Properties from $1.00 to $12.00 in a research note on Thursday, June 12th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $11.58.
Shares of Summit Hotel Properties (NYSE:INN) traded up 0.93% during mid-day trading on Friday, hitting $10.82. The stock had a trading volume of 359,035 shares. Summit Hotel Properties has a 1-year low of $8.50 and a 1-year high of $10.80. The stock has a 50-day moving average of $10.5 and a 200-day moving average of $9.64. The company’s market cap is $921.5 million.
Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.26 by $0.02. The company had revenue of $105.53 million for the quarter, compared to the consensus estimate of $101.11 million. Summit Hotel Properties’s revenue was up 33.4% compared to the same quarter last year. Analysts expect that Summit Hotel Properties will post $0.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.1175 per share. This represents a $0.47 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Wednesday, August 13th. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.11.
Summit Hotel Properties, Inc (NYSE:INN), is a real estate investment trust (REIT).
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