BidaskClub downgraded shares of Summit Hotel Properties, Inc. (NYSE:INN) from a hold rating to a sell rating in a report published on Thursday.

INN has been the subject of several other research reports. Zacks Investment Research raised shares of Summit Hotel Properties from a hold rating to a buy rating and set a $21.00 price objective for the company in a research report on Thursday, July 6th. Cantor Fitzgerald reaffirmed a buy rating and set a $18.00 price target (up from $17.00) on shares of Summit Hotel Properties in a report on Friday, May 12th. ValuEngine raised shares of Summit Hotel Properties from a buy rating to a strong-buy rating in a report on Tuesday, June 6th. Deutsche Bank AG raised their price target on shares of Summit Hotel Properties from $17.00 to $18.00 and gave the company a buy rating in a report on Thursday, May 25th. Finally, Robert W. Baird reaffirmed an outperform rating and set a $18.00 price target (up from $17.00) on shares of Summit Hotel Properties in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $18.19.

Shares of Summit Hotel Properties (INN) traded up 0.67% during trading on Thursday, reaching $17.91. 409,027 shares of the company’s stock traded hands. The stock has a 50-day moving average of $18.48 and a 200-day moving average of $16.83. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 22.17 and a beta of 1.18. Summit Hotel Properties has a 1-year low of $12.45 and a 1-year high of $19.39.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Summit Hotel Properties by 7,558.2% in the first quarter. BlackRock Inc. now owns 13,592,083 shares of the real estate investment trust’s stock worth $217,201,000 after buying an additional 13,414,600 shares during the period. State Street Corp increased its position in Summit Hotel Properties by 49.4% in the first quarter. State Street Corp now owns 3,628,861 shares of the real estate investment trust’s stock worth $57,993,000 after buying an additional 1,199,672 shares during the period. GW&K Investment Management LLC bought a new position in Summit Hotel Properties during the second quarter worth approximately $17,718,000. Vanguard Group Inc. increased its position in Summit Hotel Properties by 6.0% in the first quarter. Vanguard Group Inc. now owns 12,990,135 shares of the real estate investment trust’s stock worth $207,583,000 after buying an additional 732,109 shares during the period. Finally, Principal Financial Group Inc. increased its position in Summit Hotel Properties by 24.5% in the first quarter. Principal Financial Group Inc. now owns 3,341,478 shares of the real estate investment trust’s stock worth $53,397,000 after buying an additional 656,792 shares during the period. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About Summit Hotel Properties

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 81 hotels with a total of 11,608 guestrooms located in 24 states.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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