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.
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.
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