Summit Hotel Properties (NYSE:INN) Stock Rating Upgraded by Zacks Investment Research

Summit Hotel Properties (NYSE:INN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

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. “

Several other equities analysts have also recently issued reports on INN. Deutsche Bank reiterated a “buy” rating and set a $14.00 price target on shares of Summit Hotel Properties in a research report on Sunday, April 21st. TheStreet cut Viewray from a “c-” rating to a “d” rating in a research report on Friday, May 3rd. ValuEngine upgraded Yirendai from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, Capital One Financial began coverage on Summit Hotel Properties in a report on Tuesday, June 25th. They issued an “equal weight” rating and a $13.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $13.60.

Shares of INN stock opened at $11.49 on Friday. Summit Hotel Properties has a 1 year low of $9.29 and a 1 year high of $14.79. The firm has a market cap of $1.20 billion, a PE ratio of 8.51 and a beta of 1.23. The firm’s fifty day moving average price is $11.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.82.

Several hedge funds and other institutional investors have recently modified their holdings of INN. Versant Capital Management Inc grew its holdings in shares of Summit Hotel Properties by 3,492.5% in the 1st quarter. Versant Capital Management Inc now owns 3,341 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 3,248 shares during the last quarter. FCA Corp TX acquired a new position in shares of Summit Hotel Properties in the 4th quarter worth $114,000. CIBC Asset Management Inc acquired a new position in shares of Summit Hotel Properties in the 4th quarter worth $132,000. First Allied Advisory Services Inc. acquired a new position in shares of Summit Hotel Properties in the 4th quarter worth $136,000. Finally, Magnus Financial Group LLC acquired a new position in shares of Summit Hotel Properties in the 4th quarter worth $147,000. Institutional investors and hedge funds 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 April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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