Summit Hotel Properties, Inc. (NYSE:INN) Receives Consensus Rating of “Reduce” from Brokerages

Summit Hotel Properties, Inc. (NYSE:INN) has been assigned a consensus rating of “Reduce” from the five brokerages that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $5.00.

Several equities research analysts have issued reports on the stock. Bank of America reiterated an “underperform” rating and set a $4.50 target price (down from $5.75) on shares of Summit Hotel Properties in a research report on Tuesday, November 4th. Summit Redstone set a $4.50 price objective on shares of Summit Hotel Properties in a report on Tuesday, November 4th. Robert W. Baird set a $5.00 target price on shares of Summit Hotel Properties in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Summit Hotel Properties in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft set a $6.00 price target on Summit Hotel Properties and gave the stock a “buy” rating in a research note on Tuesday, January 13th.

Summit Hotel Properties Stock Performance

NYSE:INN opened at $4.48 on Friday. The business’s 50-day moving average price is $4.81 and its two-hundred day moving average price is $5.21. Summit Hotel Properties has a twelve month low of $3.57 and a twelve month high of $6.76. The stock has a market cap of $486.99 million, a P/E ratio of -27.98 and a beta of 1.29. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.14.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $177.12 million during the quarter, compared to analyst estimates of $179.03 million. Summit Hotel Properties had a return on equity of 0.02% and a net margin of 0.04%. As a group, equities analysts predict that Summit Hotel Properties will post 0.88 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.08 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 7.1%. Summit Hotel Properties’s payout ratio is presently -200.00%.

Insider Transactions at Summit Hotel Properties

In other Summit Hotel Properties news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $4.84, for a total transaction of $121,000.00. Following the transaction, the director directly owned 444,295 shares in the company, valued at $2,150,387.80. This trade represents a 5.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Summit Hotel Properties

Institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Summit Hotel Properties in the 3rd quarter worth $35,000. BNP Paribas Financial Markets grew its stake in shares of Summit Hotel Properties by 53.6% during the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 3,773 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Summit Hotel Properties by 148.1% in the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 6,442 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Summit Hotel Properties by 119.6% in the 2nd quarter. Coldstream Capital Management Inc. now owns 11,438 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 6,229 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in Summit Hotel Properties during the 4th quarter valued at about $58,000. Hedge funds and other institutional investors own 96.47% of the company’s stock.

About Summit Hotel Properties

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company’s portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.