Public Employees Retirement System of Ohio Has $3.17 Million Stake in Summit Hotel Properties Inc (INN)

Public Employees Retirement System of Ohio reduced its stake in Summit Hotel Properties Inc (NYSE:INN) by 30.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,184 shares of the real estate investment trust’s stock after selling 85,365 shares during the period. Public Employees Retirement System of Ohio owned 0.19% of Summit Hotel Properties worth $3,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the company. Pacad Investment Ltd. acquired a new stake in Summit Hotel Properties during the second quarter valued at approximately $114,000. Riverhead Capital Management LLC lifted its stake in Summit Hotel Properties by 120.3% during the second quarter. Riverhead Capital Management LLC now owns 6,828 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 3,728 shares during the last quarter. GAM Holding AG lifted its stake in Summit Hotel Properties by 25.7% during the second quarter. GAM Holding AG now owns 8,803 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 1,800 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Summit Hotel Properties by 20.1% during the second quarter. Ameritas Investment Partners Inc. now owns 8,982 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in Summit Hotel Properties during the second quarter valued at approximately $198,000. 95.67% of the stock is owned by institutional investors.

Summit Hotel Properties Inc (NYSE INN) opened at $15.28 on Friday. Summit Hotel Properties Inc has a 12 month low of $14.23 and a 12 month high of $19.39. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1,590.00, a price-to-earnings ratio of 18.63 and a beta of 1.19.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Summit Hotel Properties had a net margin of 20.21% and a return on equity of 8.96%. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $135.69 million. During the same period last year, the business posted $0.37 EPS. Summit Hotel Properties’s revenue was up 15.5% compared to the same quarter last year. equities analysts anticipate that Summit Hotel Properties Inc will post 1.25 earnings per share for the current fiscal year.

INN has been the subject of several recent research reports. Cantor Fitzgerald reissued a “buy” rating and set a $17.00 target price on shares of Summit Hotel Properties in a research note on Monday, November 20th. Zacks Investment Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday, November 23rd. Janney Montgomery Scott lowered shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research note on Monday, November 20th. KeyCorp upgraded shares of Summit Hotel Properties from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective on the stock in a research note on Tuesday, September 26th. Finally, Raymond James Financial upgraded shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price objective on the stock in a research note on Monday, October 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Summit Hotel Properties currently has a consensus rating of “Buy” and an average price target of $17.50.

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Summit Hotel Properties 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 83 hotels with a total of 12,242 guestrooms located in 26 states.

Institutional Ownership by Quarter for Summit Hotel Properties (NYSE:INN)

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