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

Shares of Summit Hotel Properties, Inc. (NYSE:INN) have earned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.40.

Several equities research analysts have weighed in on INN shares. Raymond James Financial restated an “outperform” rating and set a $7.00 price target on shares of Summit Hotel Properties in a report on Monday, June 8th. Zacks Research raised Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised Summit Hotel Properties from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th.

Summit Hotel Properties Stock Down 0.4%

Summit Hotel Properties stock opened at $6.87 on Friday. The firm has a market capitalization of $744.58 million, a P/E ratio of -23.69 and a beta of 1.26. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.16. Summit Hotel Properties has a twelve month low of $3.97 and a twelve month high of $7.17. The stock’s fifty day simple moving average is $6.48 and its 200-day simple moving average is $5.30.

Summit Hotel Properties (NYSE:INN) last released its earnings results on Thursday, April 30th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Summit Hotel Properties had a negative return on equity of 1.03% and a negative net margin of 1.75%.The firm had revenue of $185.05 million during the quarter, compared to analyst estimates of $180.51 million. As a group, equities analysts expect that Summit Hotel Properties will post 0.74 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a $0.08 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.32 dividend on an annualized basis and a yield of 4.7%. Summit Hotel Properties’s payout ratio is currently -110.34%.

Institutional Investors Weigh In On Summit Hotel Properties

Large investors have recently modified their holdings of the company. Amundi lifted its position in shares of Summit Hotel Properties by 3.4% during the 1st quarter. Amundi now owns 109,185 shares of the real estate investment trust’s stock worth $591,000 after purchasing an additional 3,623 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Summit Hotel Properties by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 2,528 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Summit Hotel Properties by 1.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 721,875 shares of the real estate investment trust’s stock valued at $3,905,000 after buying an additional 9,879 shares during the last quarter. Jane Street Group LLC increased its holdings in Summit Hotel Properties by 1.7% in the first quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock valued at $896,000 after buying an additional 2,793 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Summit Hotel Properties in the first quarter valued at $102,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

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.