Summit Hotel Properties Inc. (NYSE:INN) hit a new 52-week high during trading on Monday . The stock traded as high as $14.58 and last traded at $14.44, with a volume of 260,188 shares traded. The stock had previously closed at $14.02.

Several equities research analysts recently commented on the stock. JMP Securities lifted their price target on shares of Summit Hotel Properties from $14.00 to $15.50 and gave the stock a “market outperform” rating in a research note on Thursday. Canaccord Genuity reiterated a “buy” rating on shares of Summit Hotel Properties in a research note on Tuesday, August 2nd. Zacks Investment Research lowered shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. Cantor Fitzgerald reiterated a “buy” rating on shares of Summit Hotel Properties in a research note on Wednesday, May 4th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Summit Hotel Properties in a research note on Sunday, June 26th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $16.85.

The firm’s 50 day moving average is $13.56 and its 200 day moving average is $11.82. The stock has a market cap of $1.26 billion and a price-to-earnings ratio of 8.30.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. The company had revenue of $127.19 million for the quarter, compared to the consensus estimate of $127.70 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. On average, analysts expect that Summit Hotel Properties Inc. will post $1.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 16th will be paid a dividend of $0.1325 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $0.53 dividend on an annualized basis and a yield of 3.78%.

A number of hedge funds and institutional investors recently bought and sold shares of INN. GSA Capital Partners LLP increased 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. Rhumbline Advisers increased 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. California State Teachers Retirement System increased 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. Russell Frank Co increased 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. Finally, Bank of Montreal Can increased its position in 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 worth $17,878,000 after buying an additional 76,435 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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