Brokerages Set Summit Hotel Properties, Inc. (NYSE:INN) Target Price at $5.00

Summit Hotel Properties, Inc. (NYSE:INN) has earned a consensus rating of “Reduce” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.00.

INN has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Summit Hotel Properties in a research note on Monday, December 29th. Bank of America reiterated an “underperform” rating and issued a $4.50 price target (down previously from $5.75) on shares of Summit Hotel Properties in a research report on Tuesday, November 4th. Wall Street Zen downgraded Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Deutsche Bank Aktiengesellschaft set a $6.00 price objective on Summit Hotel Properties and gave the company a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird set a $5.00 target price on Summit Hotel Properties in a research report on Wednesday, December 17th.

Insider Buying and Selling at Summit Hotel Properties

In other news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $4.84, for a total value of $121,000.00. Following the completion of the sale, the director owned 444,295 shares in the company, valued at approximately $2,150,387.80. This trade represents a 5.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Summit Hotel Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its position in shares of Summit Hotel Properties by 26.7% during the second quarter. Public Employees Retirement System of Ohio now owns 251,719 shares of the real estate investment trust’s stock worth $1,281,000 after acquiring an additional 53,075 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Summit Hotel Properties in the second quarter valued at approximately $91,000. Los Angeles Capital Management LLC bought a new position in Summit Hotel Properties in the second quarter worth approximately $892,000. Asset Management One Co. Ltd. grew its stake in Summit Hotel Properties by 2.9% in the second quarter. Asset Management One Co. Ltd. now owns 160,824 shares of the real estate investment trust’s stock worth $819,000 after purchasing an additional 4,483 shares in the last quarter. Finally, Long Pond Capital LP purchased a new position in Summit Hotel Properties during the 2nd quarter worth $47,846,000. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

NYSE:INN opened at $4.72 on Tuesday. The company has a market cap of $513.54 million, a price-to-earnings ratio of -29.50 and a beta of 1.31. Summit Hotel Properties has a 1 year low of $3.57 and a 1 year high of $6.96. The stock’s 50 day simple moving average is $5.06 and its two-hundred day simple moving average is $5.30. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.65 and a quick ratio of 0.65.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Summit Hotel Properties had a net margin of 0.04% and a return on equity of 0.02%. The firm had revenue of $177.12 million during the quarter, compared to analyst estimates of $179.03 million. As a group, equities analysts anticipate that Summit Hotel Properties will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were given a dividend of $0.08 per share. The ex-dividend date was Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 6.8%. Summit Hotel Properties’s payout ratio is -200.00%.

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.