Nisa Investment Advisors LLC boosted its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 1.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 35,630 shares of the real estate investment trust’s stock after buying an additional 350 shares during the period. Nisa Investment Advisors LLC’s holdings in Summit Hotel Properties were worth $664,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in INN. Exane Derivatives purchased a new stake in Summit Hotel Properties during the first quarter valued at approximately $736,000. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in Summit Hotel Properties by 487.9% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 55,402 shares of the real estate investment trust’s stock valued at $885,000 after buying an additional 45,978 shares during the last quarter. Strs Ohio boosted its stake in Summit Hotel Properties by 1.8% in the first quarter. Strs Ohio now owns 158,746 shares of the real estate investment trust’s stock valued at $2,536,000 after buying an additional 2,882 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Summit Hotel Properties by 40.4% in the first quarter. Fisher Asset Management LLC now owns 62,148 shares of the real estate investment trust’s stock valued at $993,000 after buying an additional 17,871 shares during the last quarter. Finally, James Investment Research Inc. purchased a new stake in Summit Hotel Properties during the first quarter valued at approximately $1,900,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Summit Hotel Properties, Inc. (NYSE:INN) traded down 1.970% during midday trading on Tuesday, reaching $16.175. The company had a trading volume of 217,544 shares. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 17.678 and a beta of 1.17. Summit Hotel Properties, Inc. has a 12-month low of $12.45 and a 12-month high of $19.39. The stock’s 50 day moving average is $18.43 and its 200 day moving average is $16.89.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 16th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, August 14th. This represents a $0.68 dividend on an annualized basis and a yield of 4.12%. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 75.56%.

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Several equities research analysts have commented on the company. Robert W. Baird restated an “outperform” rating and issued a $18.00 target price (up previously 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 on the stock 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 cut their target price on Summit Hotel Properties to $19.00 and set a “buy” rating on the stock 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 analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.57.

About Summit Hotel Properties

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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Institutional Ownership by Quarter for Summit Hotel Properties (NYSE:INN)

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