Zacks Investment Research upgraded shares of Summit Hotel Properties, Inc. (NYSE:INN) from a hold rating to a buy rating in a report released on Wednesday. The firm currently has $20.00 price objective on the real estate investment trust’s stock.

According to Zacks, “Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused primarily on owning premium-branded, select-service hotels in the upscale and upper midscale segments of the lodging industry. “

Several other analysts also recently weighed in on INN. Royal Bank Of Canada reissued a buy rating and issued a $18.00 price target on shares of Summit Hotel Properties in a research note on Monday, May 8th. Cantor Fitzgerald reissued a buy rating and issued a $18.00 price target (up from $17.00) on shares of Summit Hotel Properties in a research note on Friday, May 12th. Canaccord Genuity restated a buy rating and issued a $18.00 price objective (down previously from $19.00) on shares of Summit Hotel Properties in a research report on Monday, May 15th. Deutsche Bank AG boosted their price objective on shares of Summit Hotel Properties from $17.00 to $18.00 and gave the company a buy rating in a research report on Thursday, May 25th. Finally, ValuEngine upgraded shares of Summit Hotel Properties from a buy rating to a strong-buy rating in a research report on Tuesday, June 6th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Summit Hotel Properties has a consensus rating of Buy and a consensus price target of $18.19.

Shares of Summit Hotel Properties (NYSE:INN) opened at 18.21 on Wednesday. The company has a 50-day moving average price of $18.13 and a 200-day moving average price of $16.48. Summit Hotel Properties has a 12-month low of $12.45 and a 12-month high of $19.39. The firm has a market capitalization of $1.71 billion, a P/E ratio of 22.54 and a beta of 1.18.

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Several institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Summit Hotel Properties during the fourth quarter valued at about $1,923,000. Texas Permanent School Fund boosted its stake in shares of Summit Hotel Properties by 6.3% in the first quarter. Texas Permanent School Fund now owns 67,704 shares of the real estate investment trust’s stock worth $1,082,000 after buying an additional 3,993 shares during the period. Credit Agricole S A boosted its stake in shares of Summit Hotel Properties by 58.8% in the first quarter. Credit Agricole S A now owns 77,191 shares of the real estate investment trust’s stock worth $1,234,000 after buying an additional 28,576 shares during the period. State of Tennessee Treasury Department boosted its stake in shares of Summit Hotel Properties by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 81,054 shares of the real estate investment trust’s stock worth $1,295,000 after buying an additional 12,232 shares during the period. Finally, Lincluden Management Ltd. boosted its stake in shares of Summit Hotel Properties by 4.8% in the fourth quarter. Lincluden Management Ltd. now owns 205,234 shares of the real estate investment trust’s stock worth $3,290,000 after buying an additional 9,360 shares during the period. Institutional investors own 88.11% 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 81 hotels with a total of 11,608 guestrooms located in 24 states.

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Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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