Summit Hotel Properties Inc. (NYSE:INN) shares dropped 2.4% during mid-day trading on Tuesday . The company traded as low as $13.97 and last traded at $14.01, with a volume of 347,785 shares trading hands. The stock had previously closed at $14.35.

INN has been the subject of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating on shares of Summit Hotel Properties in a report on Wednesday, May 4th. Cantor Fitzgerald reiterated a “buy” rating on shares of Summit Hotel Properties in a report on Wednesday, May 4th. Zacks Investment Research lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Thursday, May 5th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Summit Hotel Properties in a report on Sunday, June 26th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $16.90.

The company has a 50 day moving average price of $13.12 and a 200-day moving average price of $11.62. The stock has a market cap of $1.23 billion and a price-to-earnings ratio of 8.39.

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

Other institutional investors have recently added to or reduced their stakes in the company. Russell Frank Co raised its position in 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 worth $3,030,000 after buying an additional 148,144 shares during the period. California State Teachers Retirement System raised its position in 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. Rhumbline Advisers raised its position in 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. PNC Financial Services Group Inc. raised its position in 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. Finally, GSA Capital Partners LLP raised its position in 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.

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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