Summit Hotel Properties, Inc. (INN) Rating Reiterated by Robert W. Baird

Robert W. Baird reissued their buy rating on shares of Summit Hotel Properties, Inc. (NYSE:INN) in a research report released on Friday morning. The firm currently has a $17.00 target price on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on INN. BidaskClub cut Summit Hotel Properties from a hold rating to a sell rating in a report on Friday, August 11th. Royal Bank Of Canada reaffirmed a buy rating and issued a $20.00 target price on shares of Summit Hotel Properties in a report on Friday, August 4th. UBS AG cut Summit Hotel Properties from an outperform rating to a market perform rating in a report on Friday, July 14th. Canaccord Genuity reduced their target price on Summit Hotel Properties from $21.00 to $18.00 and set a buy rating on the stock in a report on Friday, August 4th. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $17.00 target price (down from $19.00) on shares of Summit Hotel Properties in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $17.86.

Summit Hotel Properties (NYSE:INN) opened at 15.17 on Friday. The stock’s 50 day moving average price is $15.73 and its 200 day moving average price is $16.73. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 16.60 and a beta of 1.20. Summit Hotel Properties has a 12 month low of $12.45 and a 12 month high of $19.39.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Summit Hotel Properties had a net margin of 21.97% and a return on equity of 9.89%. The business had revenue of $124.11 million during the quarter, compared to analysts’ expectations of $132.21 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Summit Hotel Properties’s revenue was down 2.4% on a year-over-year basis. Equities research analysts anticipate that Summit Hotel Properties will post $0.85 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 4.48%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 75.56%.

In other Summit Hotel Properties news, Chairman Daniel P. Hansen bought 10,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average price of $15.60 per share, for a total transaction of $156,000.00. Following the completion of the transaction, the chairman now directly owns 800,256 shares of the company’s stock, valued at $12,483,993.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.71% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the business. Amalgamated Bank boosted its position in shares of Summit Hotel Properties by 0.7% during the first quarter. Amalgamated Bank now owns 11,794 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 82 shares during the period. Sei Investments Co. boosted its holdings in shares of Summit Hotel Properties by 0.7% in the first quarter. Sei Investments Co. now owns 34,910 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 232 shares during the period. Elgethun Capital Management boosted its holdings in shares of Summit Hotel Properties by 0.6% in the second quarter. Elgethun Capital Management now owns 41,959 shares of the real estate investment trust’s stock valued at $783,000 after purchasing an additional 243 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Summit Hotel Properties by 1.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,169 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 250 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Summit Hotel Properties by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 89,547 shares of the real estate investment trust’s stock valued at $1,431,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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