Zacks Investment Research Upgrades Summit Hotel Properties (INN) to Hold

Summit Hotel Properties (NYSE:INN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused primarily on owning premium-branded, select-service hotels in the upscale and upper midscale segments of the lodging industry. “

Other equities analysts have also recently issued research reports about the company. Bank of America cut Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 23rd. ValuEngine cut Summit Hotel Properties from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Deutsche Bank dropped 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 dropped 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, KeyCorp set a $13.00 target price on Summit Hotel Properties and gave the stock a “buy” rating in a research report on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.86.

NYSE INN opened at $11.07 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.52 and a current ratio of 1.52. Summit Hotel Properties has a 12-month low of $9.29 and a 12-month high of $15.61. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 8.26 and a beta of 1.45.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INN. BlackRock Inc. boosted its stake in shares of Summit Hotel Properties by 3.0% during the 4th quarter. BlackRock Inc. now owns 19,284,933 shares of the real estate investment trust’s stock worth $187,643,000 after acquiring an additional 556,523 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Summit Hotel Properties by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,826,656 shares of the real estate investment trust’s stock worth $187,074,000 after acquiring an additional 77,873 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Summit Hotel Properties by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 13,826,656 shares of the real estate investment trust’s stock worth $187,074,000 after acquiring an additional 77,873 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Summit Hotel Properties by 39.7% during the 2nd quarter. Northern Trust Corp now owns 2,675,449 shares of the real estate investment trust’s stock worth $38,286,000 after acquiring an additional 760,506 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Summit Hotel Properties by 1.7% during the 4th quarter. Jennison Associates LLC now owns 2,672,353 shares of the real estate investment trust’s stock worth $26,002,000 after acquiring an additional 45,558 shares in the last quarter. Institutional investors own 99.87% of the company’s stock.

Summit Hotel Properties Company Profile

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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