Summit Hotel Properties (INN) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Summit Hotel Properties (NYSE:INN) from a sell rating to a hold rating in a report published on Friday, ValuEngine reports.

A number of other research analysts have also recently commented on the company. Bank of America cut Summit Hotel Properties from a neutral rating to an underperform rating in a research note on Monday, January 7th. Zacks Investment Research cut Summit Hotel Properties from a hold rating to a sell rating in a research note on Wednesday, January 9th. Finally, Deutsche Bank reiterated a buy rating and issued a $14.00 price target on shares of Summit Hotel Properties in a research note on Sunday, April 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $13.75.

Shares of INN opened at $12.56 on Friday. Summit Hotel Properties has a 52 week low of $9.29 and a 52 week high of $15.61. The firm has a market capitalization of $1.31 billion, a PE ratio of 9.30 and a beta of 1.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.34 and a quick ratio of 1.21.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date is Thursday, May 16th. Summit Hotel Properties’s payout ratio is 53.33%.

A number of large investors have recently made changes to their positions in INN. Clearbridge Investments LLC raised its position in Summit Hotel Properties by 1,036,353.0% during the 3rd quarter. Clearbridge Investments LLC now owns 1,565,044 shares of the real estate investment trust’s stock worth $21,175,000 after purchasing an additional 1,564,893 shares during the last quarter. Norges Bank bought a new position in Summit Hotel Properties during the 4th quarter worth $14,408,000. Deprince Race & Zollo Inc. bought a new position in Summit Hotel Properties during the 1st quarter worth $6,507,000. BlackRock Inc. raised its position in 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 purchasing an additional 556,523 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in Summit Hotel Properties during the 4th quarter worth $40,000. 99.87% of the stock is owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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