Shares of Summit Hotel Properties, Inc. (NYSE:INN) have earned a consensus recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $17.19.

Several equities analysts have commented on the stock. Deutsche Bank reiterated a “buy” rating and issued a $17.00 price target (down from $19.00) on shares of Summit Hotel Properties in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Bank of America lowered shares of Summit Hotel Properties from a “buy” rating to an “underperform” rating and dropped their price target for the company from $19.00 to $14.00 in a research note on Monday, August 14th. Raymond James Financial upgraded shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price target on the stock in a research note on Monday, October 30th. Finally, KeyCorp set a $17.00 price target on shares of Summit Hotel Properties and gave the company a “buy” rating in a research note on Sunday, October 29th.

Summit Hotel Properties (NYSE INN) traded down $0.02 during mid-day trading on Thursday, hitting $15.09. 722,372 shares of the company were exchanged, compared to its average volume of 715,208. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.61 and a quick ratio of 1.61. Summit Hotel Properties has a 12-month low of $14.07 and a 12-month high of $19.39. The stock has a market capitalization of $1,570.00, a price-to-earnings ratio of 11.35 and a beta of 1.18.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $135.69 million. Summit Hotel Properties had a net margin of 20.21% and a return on equity of 8.96%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. sell-side analysts forecast that Summit Hotel Properties will post 1.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Wednesday, November 15th. Summit Hotel Properties’s payout ratio is currently 82.93%.

Hedge funds have recently bought and sold shares of the company. Pacad Investment Ltd. acquired a new stake in shares of Summit Hotel Properties in the second quarter valued at approximately $114,000. Riverhead Capital Management LLC boosted its holdings in shares of Summit Hotel Properties by 120.3% in the second quarter. Riverhead Capital Management LLC now owns 6,828 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 3,728 shares during the period. GAM Holding AG boosted its holdings in shares of Summit Hotel Properties by 25.7% in the second quarter. GAM Holding AG now owns 8,803 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 1,800 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Summit Hotel Properties by 20.1% in the second quarter. Ameritas Investment Partners Inc. now owns 8,982 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 1,506 shares during the period. Finally, LS Investment Advisors LLC boosted its holdings in shares of Summit Hotel Properties by 5.4% in the second quarter. LS Investment Advisors LLC now owns 8,995 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 459 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

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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 79 hotels with a total of 11,590 guestrooms located in 24 states.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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