Summit Hotel Properties Inc (INN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Summit Hotel Properties Inc (NYSE:INN) have earned an average rating of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $17.19.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. KeyCorp set a $17.00 price objective on shares of Summit Hotel Properties and gave the stock a “buy” rating in a report on Sunday, October 29th. Raymond James Financial raised shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price objective on the stock in a report on Monday, October 30th. Janney Montgomery Scott cut shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a report on Monday, November 20th.

Summit Hotel Properties (NYSE:INN) opened at $14.39 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.61 and a quick ratio of 1.61. Summit Hotel Properties has a 52-week low of $13.94 and a 52-week high of $19.39. The stock has a market cap of $1,500.00, a PE ratio of 17.55, a PEG ratio of 2.16 and a beta of 1.22.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 16th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Summit Hotel Properties’s previous quarterly dividend of $0.17. Summit Hotel Properties’s dividend payout ratio (DPR) is 82.93%.

Several hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its holdings in shares of Summit Hotel Properties by 20.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,982 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 1,506 shares during the period. Advisor Group Inc. increased its holdings in shares of Summit Hotel Properties by 32.8% in the 2nd quarter. Advisor Group Inc. now owns 12,417 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 3,067 shares during the period. Navellier & Associates Inc increased its stake in Summit Hotel Properties by 2.5% during the 2nd quarter. Navellier & Associates Inc now owns 155,556 shares of the real estate investment trust’s stock valued at $2,901,000 after buying an additional 3,799 shares during the period. American International Group Inc. increased its stake in Summit Hotel Properties by 5.7% during the 3rd quarter. American International Group Inc. now owns 81,266 shares of the real estate investment trust’s stock valued at $1,299,000 after buying an additional 4,393 shares during the period. Finally, Strs Ohio increased its stake in Summit Hotel Properties by 2.8% during the 4th quarter. Strs Ohio now owns 163,986 shares of the real estate investment trust’s stock valued at $2,497,000 after buying an additional 4,473 shares during the period. 96.93% of the stock is currently owned by institutional investors and hedge funds.

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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 83 hotels with a total of 12,242 guestrooms located in 26 states.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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