Capital One Financial upgraded shares of Summit Hotel Properties (NYSE:INN) from an equal weight rating to an overweight rating in a research report released on Monday morning, BenzingaRatingsTable reports. The brokerage currently has $13.50 target price on the real estate investment trust’s stock, up from their prior target price of $13.00.
Other analysts have also issued reports about the company. Zacks Investment Research lowered Summit Hotel Properties from a buy rating to a hold rating in a report on Wednesday, January 1st. TheStreet cut Summit Hotel Properties from a b- rating to a c+ rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated a buy rating and issued a $13.00 price target on shares of Summit Hotel Properties in a research report on Sunday, December 22nd. Finally, ValuEngine upgraded Summit Hotel Properties from a strong sell rating to a sell rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Summit Hotel Properties presently has a consensus rating of Hold and a consensus target price of $13.63.
Shares of NYSE INN opened at $12.15 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s fifty day moving average price is $12.12 and its two-hundred day moving average price is $11.74. Summit Hotel Properties has a one year low of $10.49 and a one year high of $12.63. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 9.37 and a beta of 1.19.
Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). Summit Hotel Properties had a net margin of 14.44% and a return on equity of 6.64%. The firm had revenue of $133.69 million during the quarter, compared to analyst estimates of $133.52 million. During the same period in the prior year, the company earned $0.35 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Summit Hotel Properties will post 1.2 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Summit Hotel Properties by 14.2% in the third quarter. Barclays PLC now owns 301,844 shares of the real estate investment trust’s stock worth $3,500,000 after purchasing an additional 37,560 shares during the period. Russell Investments Group Ltd. increased its position in shares of Summit Hotel Properties by 594.5% in the third quarter. Russell Investments Group Ltd. now owns 156,189 shares of the real estate investment trust’s stock worth $1,811,000 after purchasing an additional 133,699 shares during the period. Trinity Legacy Partners LLC bought a new position in shares of Summit Hotel Properties in the fourth quarter worth $180,000. State Street Corp increased its position in shares of Summit Hotel Properties by 4.1% in the third quarter. State Street Corp now owns 5,954,222 shares of the real estate investment trust’s stock worth $69,069,000 after purchasing an additional 231,830 shares during the period. Finally, Chicago Equity Partners LLC bought a new position in shares of Summit Hotel Properties in the third quarter worth $2,418,000.
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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