Summit Hotel Properties Inc (NYSE:INN) Given Average Rating of “Hold” by Analysts

Summit Hotel Properties Inc (NYSE:INN) has earned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $13.40.

INN has been the topic of several research reports. Capital One Financial initiated coverage on Summit Hotel Properties in a report on Tuesday, June 25th. They issued an “equal weight” rating and a $13.00 price target on the stock. ValuEngine raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Finally, Zacks Investment Research raised Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Wednesday, September 25th.

In other Summit Hotel Properties news, COO Craig J. Aniszewski sold 40,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.60, for a total value of $464,000.00. Following the transaction, the chief operating officer now owns 397,913 shares of the company’s stock, valued at $4,615,790.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.32% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. CWM Advisors LLC raised its stake in Summit Hotel Properties by 8.5% during the 2nd quarter. CWM Advisors LLC now owns 14,840 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 1,160 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Summit Hotel Properties by 7.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,970 shares of the real estate investment trust’s stock valued at $183,000 after acquiring an additional 1,170 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Summit Hotel Properties by 4.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 29,325 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 1,178 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Summit Hotel Properties by 1.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 66,400 shares of the real estate investment trust’s stock valued at $762,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Summit Hotel Properties by 0.8% during the 2nd quarter. Arizona State Retirement System now owns 163,003 shares of the real estate investment trust’s stock valued at $1,870,000 after acquiring an additional 1,361 shares in the last quarter.

NYSE:INN traded up $0.22 during midday trading on Friday, hitting $11.84. 7,593 shares of the stock were exchanged, compared to its average volume of 904,343. Summit Hotel Properties has a one year low of $9.29 and a one year high of $12.99. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.83 and a beta of 1.20. The business has a 50-day moving average price of $11.44 and a two-hundred day moving average price of $11.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.69.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.09. The company had revenue of $142.93 million for the quarter, compared to analysts’ expectations of $141.05 million. Summit Hotel Properties had a return on equity of 8.82% and a net margin of 18.95%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. Sell-side analysts forecast that Summit Hotel Properties will post 1.2 EPS for the current fiscal year.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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