Summit Hotel Properties Price Target Increased to $11.50 by Analysts at Raymond James (INN)
Research analysts at Raymond James lifted their price target on shares of Summit Hotel Properties (NYSE:INN) from $10.50 to $11.50 in a report released on Friday. The firm currently has an “outperform” rating on the stock. Raymond James’ price target suggests a potential upside of 6.28% from the company’s current price.
Shares of Summit Hotel Properties (NYSE:INN) opened at 10.82 on Friday. Summit Hotel Properties has a 1-year low of $8.50 and a 1-year high of $10.83. The stock has a 50-day moving average of $10.56 and a 200-day moving average of $9.65. The company’s market cap is $925.7 million.
Summit Hotel Properties (NYSE:INN) last released its earnings data on Wednesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the 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. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, analysts predict that Summit Hotel Properties will post $0.90 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders 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 of this dividend is Wednesday, August 13th. This is a positive change from Summit Hotel Properties’s previous quarterly dividend of $0.11.
A number of other analysts have also recently weighed in on INN. 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. Separately, 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. Finally, analysts at RBC Capital upgraded shares of Summit Hotel Properties from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 14th. They now have a $11.00 price target on the stock, up previously from $10.00. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Summit Hotel Properties presently has an average rating of “Buy” and a consensus target price of $11.58.
Summit Hotel Properties, Inc (NYSE:INN), is a real estate investment trust (REIT).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.