Summit Hotel Properties, Inc. (NYSE:INN)‘s stock had its “outperform” rating reissued by analysts at Robert W. Baird in a report released on Friday. They currently have a $18.00 target price on the real estate investment trust’s stock, up from their prior target price of $17.00. Robert W. Baird’s price objective suggests a potential downside of 5.26% from the stock’s previous close.

INN has been the topic of several other reports. Zacks Investment Research lowered shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Monday, February 20th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Summit Hotel Properties in a report on Thursday, February 23rd. Bank of America Corporation raised shares of Summit Hotel Properties from an “underperform” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Friday, March 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price target (down from $19.00) on shares of Summit Hotel Properties in a report on Monday, May 15th. Finally, ValuEngine raised shares of Summit Hotel Properties from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 6th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.94.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

Shares of Summit Hotel Properties (NYSE INN) opened at 19.00 on Friday. The company has a market capitalization of $1.78 billion, a PE ratio of 23.51 and a beta of 1.18. Summit Hotel Properties has a 12 month low of $11.90 and a 12 month high of $19.15. The stock has a 50 day moving average price of $17.68 and a 200-day moving average price of $16.27.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 16th were paid a dividend of $0.17 per share. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Friday, May 12th. Summit Hotel Properties’s payout ratio is presently 85.00%.

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Several large investors have recently bought and sold shares of the company. Amalgamated Bank increased its stake in Summit Hotel Properties by 0.7% in the first quarter. Amalgamated Bank now owns 11,794 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 82 shares during the last quarter. Sei Investments Co. increased its stake in Summit Hotel Properties by 0.7% in the first quarter. Sei Investments Co. now owns 34,910 shares of the real estate investment trust’s stock valued at $558,000 after buying an additional 232 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Summit Hotel Properties by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 89,547 shares of the real estate investment trust’s stock valued at $1,431,000 after buying an additional 314 shares during the last quarter. Suntrust Banks Inc. increased its stake in Summit Hotel Properties by 2.2% in the first quarter. Suntrust Banks Inc. now owns 14,371 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 315 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its stake in Summit Hotel Properties by 2.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 64,490 shares of the real estate investment trust’s stock valued at $1,031,000 after buying an additional 1,363 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 76 hotels with over 10,705 guestrooms located in 22 states.

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