Summit Hotel Properties, Inc. (NYSE:INN) Receives $5.00 Consensus PT from Brokerages

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

Several research firms have commented on INN. Bank of America restated an “underperform” rating and set a $4.50 price objective (down from $5.75) on shares of Summit Hotel Properties in a report on Tuesday, November 4th. Robert W. Baird set a $5.00 price target on Summit Hotel Properties in a research note on Wednesday, December 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Monday, December 29th. Zacks Research cut shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Finally, Summit Redstone set a $4.50 target price on shares of Summit Hotel Properties in a research report on Tuesday, November 4th.

Insider Transactions at Summit Hotel Properties

In other news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of Summit Hotel Properties stock in a transaction on Monday, January 5th. The stock was sold at an average price of $4.84, for a total value of $121,000.00. Following the transaction, the director directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Summit Hotel Properties

Institutional investors have recently added to or reduced their stakes in the stock. Long Pond Capital LP bought a new stake in shares of Summit Hotel Properties in the 2nd quarter valued at about $47,846,000. Jennison Associates LLC raised its stake in shares of Summit Hotel Properties by 1.7% during the 2nd quarter. Jennison Associates LLC now owns 6,957,732 shares of the real estate investment trust’s stock worth $35,415,000 after acquiring an additional 114,369 shares in the last quarter. UBS Group AG lifted its position in Summit Hotel Properties by 18.9% during the third quarter. UBS Group AG now owns 6,936,070 shares of the real estate investment trust’s stock valued at $38,079,000 after acquiring an additional 1,102,102 shares during the last quarter. Geode Capital Management LLC boosted its stake in Summit Hotel Properties by 1.8% in the second quarter. Geode Capital Management LLC now owns 2,877,261 shares of the real estate investment trust’s stock valued at $14,647,000 after acquiring an additional 50,295 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Summit Hotel Properties by 6.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,479,568 shares of the real estate investment trust’s stock worth $8,123,000 after purchasing an additional 89,809 shares during the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Trading Up 0.6%

INN stock opened at $4.75 on Tuesday. Summit Hotel Properties has a 12 month low of $3.57 and a 12 month high of $6.96. The firm’s 50-day moving average is $5.04 and its 200 day moving average is $5.30. The company has a market capitalization of $516.80 million, a PE ratio of -29.69 and a beta of 1.31. 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 issued its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.17 EPS for the quarter, topping 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 business had revenue of $177.12 million for the quarter, compared to the consensus estimate of $179.03 million. On average, research analysts anticipate that Summit Hotel Properties will post 0.88 EPS for the current year.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 6.7%. Summit Hotel Properties’s payout ratio is -200.00%.

Summit Hotel Properties Company Profile

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.