Summit Hotel Properties Inc. (NYSE:INN) shares hit a new 52-week high during trading on Monday . The company traded as high as $14.44 and last traded at $14.34, with a volume of 116,916 shares changing hands. The stock had previously closed at $14.32.

A number of research analysts have commented on INN shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Summit Hotel Properties in a report on Wednesday, May 4th. Canaccord Genuity reaffirmed a “buy” rating on shares of Summit Hotel Properties in a report on Wednesday, May 4th. Zacks Investment Research raised Summit Hotel Properties from a “sell” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, May 10th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Summit Hotel Properties in a report on Sunday, June 26th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. Summit Hotel Properties has an average rating of “Buy” and an average price target of $16.90.

The company has a market cap of $1.25 billion and a P/E ratio of 8.53. The stock has a 50 day moving average of $13.01 and a 200-day moving average of $11.58.

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

A number of hedge funds have modified their holdings of the company. PNC Financial Services Group Inc. raised its stake 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 worth $2,265,000 after buying an additional 1,338 shares during the period. California State Teachers Retirement System raised its stake in shares of Summit Hotel Properties by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 161,758 shares of the real estate investment trust’s stock worth $1,933,000 after buying an additional 2,573 shares during the period. GSA Capital Partners LLP raised its stake in shares of Summit Hotel Properties by 4.3% in the fourth quarter. GSA Capital Partners LLP now owns 88,050 shares of the real estate investment trust’s stock worth $1,052,000 after buying an additional 3,642 shares during the period. Rhumbline Advisers raised its stake in shares of Summit Hotel Properties by 5.2% in the fourth quarter. Rhumbline Advisers now owns 137,463 shares of the real estate investment trust’s stock worth $1,643,000 after buying an additional 6,740 shares during the period. Finally, Monarch Partners Asset Management LLC raised its stake in shares of Summit Hotel Properties by 11.6% in the fourth quarter. Monarch Partners Asset Management LLC now owns 129,475 shares of the real estate investment trust’s stock worth $1,547,000 after buying an additional 13,500 shares during the period.

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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