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

Several research analysts have weighed in on the stock. JMP Securities upped their price objective on shares of Summit Hotel Properties from $14.00 to $15.50 and gave the company a “market outperform” rating in a research note on Thursday, August 4th. 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 equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.85.

The stock’s 50-day moving average price is $13.65 and its 200 day moving average price is $11.93. The firm has a market capitalization of $1.25 billion and a P/E ratio of 8.26.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The firm had revenue of $127.19 million for the quarter, compared to the consensus estimate of $127.70 million. During the same period in the prior year, the company earned $0.14 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that Summit Hotel Properties Inc. will post $1.34 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Tuesday, August 16th will be issued a dividend of $0.1325 per share. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, August 12th.

Other institutional investors have bought and sold shares of the company. GSA Capital Partners LLP boosted 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 last quarter. Rhumbline Advisers boosted 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 last quarter. California State Teachers Retirement System boosted 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 last quarter. Russell Frank Co boosted 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 last quarter. Finally, Bank of Montreal Can boosted 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 last quarter.

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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