Summit Hotel Properties Inc (NYSE:INN)‘s stock had its “buy” rating reissued by equities research analysts at Robert W. Baird in a research report issued on Friday. They presently have a $17.00 price objective on the real estate investment trust’s stock. Robert W. Baird’s price target would suggest a potential upside of 14.25% from the company’s current price.

A number of other research firms have also recently issued reports on INN. UBS AG cut Summit Hotel Properties from an “outperform” rating to a “market perform” rating in a report on Friday, July 14th. Cantor Fitzgerald lifted their target price on Summit Hotel Properties from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, May 25th. BidaskClub lowered Summit Hotel Properties from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research raised Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, July 12th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Summit Hotel Properties in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have given 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 $17.86.

Shares of Summit Hotel Properties (INN) traded up 1.16% during trading on Friday, hitting $14.88. The company had a trading volume of 494,266 shares. The stock’s 50-day moving average price is $15.79 and its 200 day moving average price is $16.72. Summit Hotel Properties has a 52 week low of $12.45 and a 52 week high of $19.39. The company has a market capitalization of $1.55 billion, a P/E ratio of 16.28 and a beta of 1.20.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.02. Summit Hotel Properties had a net margin of 26.41% and a return on equity of 10.72%. The business had revenue of $124.11 million for the quarter, compared to analysts’ expectations of $132.21 million. During the same quarter in the previous year, the firm earned $0.42 EPS. Summit Hotel Properties’s revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Summit Hotel Properties will post $0.85 earnings per share for the current year.

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In related news, Chairman Daniel P. Hansen purchased 10,000 shares of Summit Hotel Properties stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average cost of $15.60 per share, with a total value of $156,000.00. Following the transaction, the chairman now owns 800,256 shares in the company, valued at approximately $12,483,993.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.71% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in INN. Louisiana State Employees Retirement System raised its position in shares of Summit Hotel Properties by 8.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 38,100 shares of the real estate investment trust’s stock worth $609,000 after acquiring an additional 3,000 shares in the last quarter. Strs Ohio raised its position in shares of Summit Hotel Properties by 1.8% in the 1st quarter. Strs Ohio now owns 158,746 shares of the real estate investment trust’s stock worth $2,536,000 after acquiring an additional 2,882 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of Summit Hotel Properties by 487.9% in the 1st quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 55,402 shares of the real estate investment trust’s stock worth $885,000 after acquiring an additional 45,978 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Summit Hotel Properties by 2.9% in the 1st quarter. Wells Fargo & Company MN now owns 201,928 shares of the real estate investment trust’s stock worth $3,226,000 after acquiring an additional 5,654 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Summit Hotel Properties by 10.4% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,919 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 1,400 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Summit Hotel Properties Company Profile

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 79 hotels with a total of 11,590 guestrooms located in 24 states.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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