Capital One Financial Upgrades Summit Hotel Properties (NYSE:INN) to “Overweight”

Capital One Financial upgraded shares of Summit Hotel Properties (NYSE:INN) from an equal weight rating to an overweight rating in a research note published on Monday, BenzingaRatingsTable reports. They currently have $13.50 price target on the real estate investment trust’s stock, up from their prior price target of $13.00.

Several other equities analysts have also issued reports on INN. TheStreet lowered Summit Hotel Properties from a b- rating to a c+ rating in a research note on Wednesday, November 6th. Zacks Investment Research lowered Summit Hotel Properties from a buy rating to a hold rating in a research note on Wednesday, January 1st. ValuEngine raised Summit Hotel Properties from a strong sell rating to a sell rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada reissued a buy rating and issued a $13.00 price target on shares of Summit Hotel Properties in a research note on Sunday, December 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $13.63.

Shares of INN opened at $12.15 on Monday. Summit Hotel Properties has a 52-week low of $10.49 and a 52-week high of $12.63. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50 day moving average price is $12.12 and its two-hundred day moving average price is $11.74. The firm has a market cap of $1.27 billion, a PE ratio of 9.37 and a beta of 1.19.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.24). Summit Hotel Properties had a net margin of 14.44% and a return on equity of 6.64%. The business had revenue of $133.69 million during the quarter, compared to analyst estimates of $133.52 million. During the same period last year, the firm posted $0.35 earnings per share. Summit Hotel Properties’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts predict that Summit Hotel Properties will post 1.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC increased its holdings in shares of Summit Hotel Properties by 14.2% during the third quarter. Barclays PLC now owns 301,844 shares of the real estate investment trust’s stock valued at $3,500,000 after acquiring an additional 37,560 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Summit Hotel Properties by 594.5% during the third quarter. Russell Investments Group Ltd. now owns 156,189 shares of the real estate investment trust’s stock valued at $1,811,000 after acquiring an additional 133,699 shares in the last quarter. Trinity Legacy Partners LLC bought a new stake in shares of Summit Hotel Properties during the fourth quarter valued at approximately $180,000. State Street Corp increased its holdings in shares of Summit Hotel Properties by 4.1% during the third quarter. State Street Corp now owns 5,954,222 shares of the real estate investment trust’s stock valued at $69,069,000 after acquiring an additional 231,830 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in shares of Summit Hotel Properties during the third quarter valued at approximately $2,418,000.

Summit Hotel Properties Company Profile

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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