Shares of Summit Hotel Properties Inc. (NYSE:INN) saw strong trading volume on Monday . 847,814 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 660,394 shares.The stock last traded at $14.23 and had previously closed at $13.96.

A number of research analysts have weighed in on the company. Cantor Fitzgerald reissued a “buy” rating on shares of Summit Hotel Properties in a report on Wednesday, May 4th. Canaccord Genuity reissued a “buy” rating on shares of Summit Hotel Properties in a report on Wednesday, May 4th. Deutsche Bank AG reissued a “buy” rating on shares of Summit Hotel Properties in a report on Sunday, June 26th. Finally, Zacks Investment Research downgraded Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. Two research analysts have rated the stock with a sell rating and ten have given a buy rating to the company’s stock. Summit Hotel Properties has a consensus rating of “Buy” and an average price target of $16.68.

The stock has a 50 day moving average of $12.76 and a 200-day moving average of $11.50. The firm has a market capitalization of $1.24 billion and a PE ratio of 8.47.

Summit Hotel Properties (NYSE:INN) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $118.10 million for the quarter, compared to analysts’ expectations of $116.68 million. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. On average, equities analysts forecast that Summit Hotel Properties Inc. will post $1.32 EPS for the current fiscal year.

A number of hedge funds and institutional investors have made changes to their positions in the company. Bank of Montreal Can increased its position in shares of Summit Hotel Properties by 5.4% in the fourth quarter. Bank of Montreal Can now owns 1,496,119 shares of the real estate investment trust’s stock valued at $17,878,000 after buying an additional 76,435 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Summit Hotel Properties by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,172,499 shares of the real estate investment trust’s stock valued at $14,012,000 after buying an additional 20,937 shares during the period. Russell Frank Co increased its position in shares of Summit Hotel Properties by 147.8% in the fourth quarter. Russell Frank Co now owns 248,368 shares of the real estate investment trust’s stock valued at $3,030,000 after buying an additional 148,144 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Summit Hotel Properties by 0.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 189,646 shares of the real estate investment trust’s stock valued at $2,265,000 after buying an additional 1,338 shares during the period. Finally, Shell Asset Management Co. acquired a new position in shares of Summit Hotel Properties during the fourth quarter valued at $2,152,000.

Summit Hotel Properties, Inc is a holding company and conducts all of its operations through its Summit Hotel OP, LP (operating partnership). The Company is a real estate investments trust (REIT) and self-managed hotel investment company. The Company operates in the segment of activities related to investing in real estate.

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