Susquehanna International Group LLP cut its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 46.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,647 shares of the real estate investment trust’s stock after selling 90,500 shares during the quarter. Susquehanna International Group LLP owned approximately 0.10% of Summit Hotel Properties worth $1,673,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Summit Hotel Properties by 23.3% in the second quarter. BlackRock Inc. now owns 16,762,916 shares of the real estate investment trust’s stock valued at $312,629,000 after buying an additional 3,170,833 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Summit Hotel Properties by 28.3% during the second quarter. Vanguard Group Inc. now owns 16,660,607 shares of the real estate investment trust’s stock valued at $310,721,000 after purchasing an additional 3,670,472 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Summit Hotel Properties by 4.9% during the third quarter. Principal Financial Group Inc. now owns 4,135,461 shares of the real estate investment trust’s stock valued at $66,127,000 after purchasing an additional 191,859 shares in the last quarter. State Street Corp boosted its stake in shares of Summit Hotel Properties by 11.1% during the second quarter. State Street Corp now owns 4,031,665 shares of the real estate investment trust’s stock valued at $75,190,000 after purchasing an additional 402,804 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of Summit Hotel Properties by 1.2% during the third quarter. Macquarie Group Ltd. now owns 2,978,880 shares of the real estate investment trust’s stock valued at $47,632,000 after purchasing an additional 34,286 shares in the last quarter. 95.71% of the stock is currently owned by institutional investors and hedge funds.

Summit Hotel Properties, Inc. (NYSE INN) opened at $15.01 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1,545.38, a P/E ratio of 11.14 and a beta of 1.18. Summit Hotel Properties, Inc. has a 12 month low of $14.23 and a 12 month high of $19.39.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.17 EPS for the quarter, hitting the Zacks’ 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 return on equity of 8.96% and a net margin of 20.21%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 earnings per share. analysts predict that Summit Hotel Properties, Inc. will post 1.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Wednesday, November 15th. Summit Hotel Properties’s dividend payout ratio is currently 82.93%.

A number of brokerages have recently commented on INN. Zacks Investment Research raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Cantor Fitzgerald reissued a “buy” rating and set a $17.00 price target on shares of Summit Hotel Properties in a research note on Monday, November 20th. Janney Montgomery Scott lowered Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research note on Monday, November 20th. Raymond James Financial raised 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 Summit Hotel Properties and gave the company a “buy” rating in a research note on Sunday, October 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $17.50.

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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.

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

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