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

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

The stock’s 50 day moving average is $13.15 and its 200 day moving average is $11.63. The company has a market capitalization of $1.23 billion and a P/E ratio of 8.39.

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, beating the consensus estimate of $0.31 by $0.01. During the same quarter last year, the business posted $0.27 earnings per share. The company earned $118.10 million during the quarter, compared to analysts’ expectations of $116.68 million. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Summit Hotel Properties Inc. will post $1.32 earnings per share for the current year.

Other hedge funds and institutional investors recently made changes to their positions in the company. 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. GSA Capital Partners LLP increased its stake 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. Russell Frank Co increased its stake 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. Rhumbline Advisers increased its stake 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. Finally, Monarch Partners Asset Management LLC increased its stake in 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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