Summit Hotel Properties (INN) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Summit Hotel Properties (NYSE:INN) from a sell rating to a hold rating in a report released on Tuesday.

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. “

A number of other research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Summit Hotel Properties from a strong sell rating to a sell rating in a research report on Thursday, December 6th. Bank of America downgraded shares of Summit Hotel Properties from a neutral rating to an underperform rating in a research report on Monday, January 7th. Finally, KeyCorp set a $13.00 price target on shares of Summit Hotel Properties and gave the stock a buy rating in a research report on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Summit Hotel Properties currently has an average rating of Hold and an average price target of $13.75.



Shares of INN stock opened at $11.38 on Tuesday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 8.28 and a beta of 1.45. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. Summit Hotel Properties has a 1-year low of $9.29 and a 1-year high of $15.61.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 14th were given a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, February 13th. This represents a $0.72 annualized dividend and a yield of 6.33%.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Summit Hotel Properties by 3.0% in the 4th quarter. BlackRock Inc. now owns 19,284,933 shares of the real estate investment trust’s stock valued at $187,643,000 after purchasing an additional 556,523 shares during the last quarter. Vanguard Group Inc raised its position 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 buying an additional 77,873 shares in the last quarter. Vanguard Group Inc. raised its position 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 buying an additional 77,873 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Summit Hotel Properties by 0.5% during the 4th quarter. Macquarie Group Ltd. now owns 3,599,365 shares of the real estate investment trust’s stock worth $35,022,000 after buying an additional 17,600 shares in the last quarter. Finally, Jennison Associates LLC raised its position 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 buying an additional 45,558 shares in the last quarter. Hedge funds and other institutional investors own 99.72% 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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