Summit Hotel Properties, Inc. (NYSE:INN) was downgraded by UBS AG from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, The Fly reports.

A number of other research analysts have also commented on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price target (down previously from $19.00) on shares of Summit Hotel Properties in a research report on Monday, May 15th. Zacks Investment Research lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, March 21st. Cantor Fitzgerald decreased their target price on Summit Hotel Properties to $19.00 and set a “buy” rating for the company in a research report on Monday, June 5th. Robert W. Baird reissued an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Summit Hotel Properties in a research report on Friday, June 16th. Finally, Deutsche Bank AG increased their target price on Summit Hotel Properties from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.19.

Shares of Summit Hotel Properties (NYSE:INN) traded down 2.25% during midday trading on Friday, reaching $17.80. The company’s stock had a trading volume of 1,634,697 shares. Summit Hotel Properties has a 52-week low of $12.45 and a 52-week high of $19.39. The stock has a 50-day moving average price of $18.13 and a 200-day moving average price of $16.48. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 22.03 and a beta of 1.18.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in shares of Summit Hotel Properties during the fourth quarter valued at about $1,923,000. State Street Corp raised its position in shares of Summit Hotel Properties by 17.7% in the fourth quarter. State Street Corp now owns 2,429,189 shares of the real estate investment trust’s stock valued at $38,935,000 after buying an additional 365,315 shares in the last quarter. Credit Agricole S A raised its position in shares of Summit Hotel Properties by 5.0% in the fourth quarter. Credit Agricole S A now owns 48,615 shares of the real estate investment trust’s stock valued at $780,000 after buying an additional 2,336 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Summit Hotel Properties during the fourth quarter valued at about $8,595,000. Finally, Two Sigma Investments LP purchased a new position in shares of Summit Hotel Properties during the fourth quarter valued at about $644,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 81 hotels with a total of 11,608 guestrooms located in 24 states.

The Fly

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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