Summit Hotel Properties Now Covered by JMP Securities (INN)
Stock analysts at JMP Securities initiated coverage on shares of Summit Hotel Properties (NYSE:INN) in a report issued on Thursday. The firm set an “outperform” rating and a $12.50 price target on the stock. JMP Securities’ target price points to a potential upside of 13.74% from the company’s current price.
Summit Hotel Properties (NYSE:INN) opened at 10.99 on Thursday. Summit Hotel Properties has a one year low of $8.50 and a one year high of $11.06. The stock’s 50-day moving average is $10.62 and its 200-day moving average is $9.77. The company’s market cap is $944.2 million.
Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data 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 $0.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.1175 per share. This represents a $0.47 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a boost from Summit Hotel Properties’s previous quarterly dividend of $0.11.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Summit Hotel Properties from $11.00 to $12.00 in a research note on Friday, August 8th. Separately, analysts at Raymond James raised their price target on shares of Summit Hotel Properties from $10.50 to $11.50 in a research note on Friday, August 8th. They now have an “outperform” rating on the stock. Finally, 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $11.67.
Summit Hotel Properties, Inc (NYSE:INN), is a real estate investment trust (REIT).
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