Summit Hotel Properties Inc (NYSE:INN) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.68 and last traded at $10.92, with a volume of 49002 shares trading hands. The stock had previously closed at $10.94.

Several research analysts recently issued reports on the company. ValuEngine raised Summit Hotel Properties from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research lowered Summit Hotel Properties from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Deutsche Bank reduced their target price on Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Raymond James reduced their target price on Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Finally, TheStreet lowered Summit Hotel Properties from a “b-” rating to a “c+” rating in a research report on Monday, November 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.17.

The stock has a market cap of $1.15 billion, a PE ratio of 8.30, a PEG ratio of 5.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 1.52.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $142.34 million during the quarter, compared to analyst estimates of $141.18 million. Summit Hotel Properties had a net margin of 16.76% and a return on equity of 7.79%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, research analysts predict that Summit Hotel Properties Inc will post 1.26 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend was Thursday, November 15th. Summit Hotel Properties’s dividend payout ratio is presently 53.73%.

In other news, Chairman Daniel P. Hansen acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were acquired at an average cost of $11.35 per share, with a total value of $113,500.00. Following the completion of the acquisition, the chairman now owns 1,001,155 shares of the company’s stock, valued at $11,363,109.25. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.12% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in INN. Duff & Phelps Investment Management Co. boosted its stake in shares of Summit Hotel Properties by 4.4% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,904,875 shares of the real estate investment trust’s stock worth $25,773,000 after buying an additional 81,000 shares during the last quarter. Employees Retirement System of Texas boosted its stake in shares of Summit Hotel Properties by 25.2% in the second quarter. Employees Retirement System of Texas now owns 179,000 shares of the real estate investment trust’s stock worth $2,561,000 after buying an additional 36,000 shares during the last quarter. Monarch Partners Asset Management LLC boosted its stake in shares of Summit Hotel Properties by 11.4% in the second quarter. Monarch Partners Asset Management LLC now owns 399,437 shares of the real estate investment trust’s stock worth $5,716,000 after buying an additional 40,910 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Summit Hotel Properties by 0.4% in the second quarter. Macquarie Group Ltd. now owns 3,574,170 shares of the real estate investment trust’s stock worth $51,147,000 after buying an additional 13,212 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in shares of Summit Hotel Properties by 0.8% in the third quarter. Systematic Financial Management LP now owns 1,484,575 shares of the real estate investment trust’s stock worth $20,086,000 after buying an additional 11,433 shares during the last quarter.

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About Summit Hotel Properties (NYSE:INN)

Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of October 30, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,659 guestrooms located in 26 states.

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