Summit Hotel Properties, Inc. (NYSE:INN) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Summit Hotel Properties, Inc. (NYSE:INN) have been assigned a consensus recommendation of “Reduce” from the five research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.00.

Several equities analysts have recently commented on INN shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Summit Hotel Properties in a research report on Monday, December 29th. Robert W. Baird set a $5.00 target price on Summit Hotel Properties in a report on Wednesday, December 17th. Summit Redstone set a $4.50 price target on Summit Hotel Properties in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft set a $6.00 price target on Summit Hotel Properties and gave the company a “buy” rating in a research report on Tuesday. Finally, Zacks Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th.

Insider Transactions at Summit Hotel Properties

In other Summit Hotel Properties news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of Summit Hotel Properties stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $4.84, for a total value of $121,000.00. Following the completion of the transaction, the director directly owned 444,295 shares in the company, valued at $2,150,387.80. The trade was a 5.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.37% of the stock is owned by corporate insiders.

Institutional Trading of Summit Hotel Properties

Several hedge funds have recently added to or reduced their stakes in INN. Quarry LP acquired a new stake in shares of Summit Hotel Properties during the 3rd quarter valued at $35,000. Signaturefd LLC grew its holdings in shares of Summit Hotel Properties by 36.4% during the 2nd quarter. Signaturefd LLC now owns 8,656 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 2,309 shares in the last quarter. BNP Paribas Financial Markets increased its position in Summit Hotel Properties by 53.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 3,773 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Summit Hotel Properties by 148.1% in the second quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 6,442 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Summit Hotel Properties by 119.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 11,438 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 6,229 shares in the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

INN opened at $4.76 on Tuesday. Summit Hotel Properties has a twelve month low of $3.57 and a twelve month high of $6.96. The firm has a market cap of $517.34 million, a price-to-earnings ratio of -29.72 and a beta of 1.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.14. The company has a fifty day simple moving average of $5.09 and a 200 day simple moving average of $5.31.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. Summit Hotel Properties had a return on equity of 0.02% and a net margin of 0.04%.The business had revenue of $177.12 million for the quarter, compared to analysts’ expectations of $179.03 million. Equities research analysts expect that Summit Hotel Properties will post 0.88 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, November 14th. Summit Hotel Properties’s dividend payout ratio is currently -200.00%.

About Summit Hotel Properties

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company’s portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.