Royal Bank Of Canada restated their buy rating on shares of Summit Hotel Properties, Inc. (NYSE:INN) in a research note released on Friday. They currently have a $20.00 price target on the real estate investment trust’s stock.

Several other research firms have also recently commented on INN. Robert W. Baird reiterated an outperform rating and set a $18.00 target price (up from $17.00) on shares of Summit Hotel Properties in a research note on Friday, June 16th. Zacks Investment Research upgraded Summit Hotel Properties from a hold rating to a buy rating and set a $21.00 target price for the company in a research note on Thursday, July 6th. BidaskClub cut Summit Hotel Properties from a strong-buy rating to a buy rating in a research note on Friday, June 30th. Cantor Fitzgerald reduced their target price on Summit Hotel Properties to $19.00 and set a buy rating for the company in a research note on Monday, June 5th. Finally, UBS AG cut Summit Hotel Properties from an outperform rating to a market perform rating in a research note on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Summit Hotel Properties presently has a consensus rating of Buy and an average price target of $18.57.

Shares of Summit Hotel Properties (NYSE INN) traded up 0.68% on Friday, reaching $16.37. 1,128,437 shares of the company were exchanged. The company has a 50-day moving average price of $18.43 and a 200 day moving average price of $16.89. The stock has a market capitalization of $1.61 billion, a PE ratio of 17.89 and a beta of 1.17. Summit Hotel Properties has a 1-year low of $12.45 and a 1-year high of $19.39.

Summit Hotel Properties (NYSE:INN) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The business had revenue of $124.11 million for the quarter, compared to analysts’ expectations of $132.21 million. Summit Hotel Properties had a net margin of 21.97% and a return on equity of 9.89%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. On average, analysts forecast that Summit Hotel Properties will post $0.83 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 16th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Monday, August 14th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 75.56%.

A number of institutional investors have recently made changes to their positions in INN. Amalgamated Bank boosted its position in shares of 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 period. Sei Investments Co. raised its stake in shares of 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Summit Hotel Properties by 1.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,169 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 250 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of 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 in the last quarter. Finally, Suntrust Banks Inc. raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 88.04% 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.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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