Parametrica Management Ltd purchased a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,533 shares of the real estate investment trust’s stock, valued at approximately $184,000.

Other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in Summit Hotel Properties by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 538,127 shares of the real estate investment trust’s stock worth $8,599,000 after purchasing an additional 25,273 shares during the period. New York State Common Retirement Fund boosted its position in Summit Hotel Properties by 17.0% during the 2nd quarter. New York State Common Retirement Fund now owns 109,400 shares of the real estate investment trust’s stock worth $2,040,000 after purchasing an additional 15,899 shares during the period. Macquarie Group Ltd. boosted its position in Summit Hotel Properties by 2.4% during the 2nd quarter. Macquarie Group Ltd. now owns 2,944,594 shares of the real estate investment trust’s stock worth $54,917,000 after purchasing an additional 69,729 shares during the period. IndexIQ Advisors LLC boosted its position in Summit Hotel Properties by 54.4% during the 2nd quarter. IndexIQ Advisors LLC now owns 153,946 shares of the real estate investment trust’s stock worth $2,871,000 after purchasing an additional 54,243 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Summit Hotel Properties by 11.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 42,400 shares of the real estate investment trust’s stock worth $791,000 after purchasing an additional 4,300 shares during the period. 95.83% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on INN. Zacks Investment Research upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Raymond James Financial, Inc. upgraded shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price objective on the stock in a report on Monday, October 30th. KeyCorp set a $17.00 price objective on shares of Summit Hotel Properties and gave the stock a “buy” rating in a report on Sunday, October 29th. Robert W. Baird reiterated a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a report on Friday, September 8th. Finally, Bank of America Corporation lowered shares of Summit Hotel Properties from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $19.00 to $14.00 in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.72.

In other news, Chairman Daniel P. Hansen bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average price of $15.60 per share, for a total transaction of $156,000.00. Following the transaction, the chairman now owns 800,256 shares in the company, valued at $12,483,993.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.71% of the stock is currently owned by corporate insiders.

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Shares of Summit Hotel Properties, Inc. (NYSE:INN) opened at $15.54 on Monday. Summit Hotel Properties, Inc. has a 1 year low of $12.45 and a 1 year high of $19.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $1,620.46, a PE ratio of 11.68 and a beta of 1.20.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Summit Hotel Properties had a net margin of 20.21% and a return on equity of 8.96%. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $135.69 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Summit Hotel Properties’s quarterly revenue was up 15.5% on a year-over-year basis. research analysts expect that Summit Hotel Properties, Inc. will post 1.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Wednesday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is 82.93%.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 79 hotels with a total of 11,590 guestrooms located in 24 states.

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Institutional Ownership by Quarter for Summit Hotel Properties (NYSE:INN)

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