Summit Hotel Properties, Inc. (NYSE:INN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

INN has been the topic of several other reports. Cantor Fitzgerald dropped their price objective on Summit Hotel Properties to $19.00 and set a “buy” rating on the stock in a research report on Monday, June 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Summit Hotel Properties in a research report on Friday, June 16th. Deutsche Bank AG reaffirmed a “buy” rating and set a $17.00 price objective (down from $19.00) on shares of Summit Hotel Properties in a research report on Wednesday. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price objective (down from $19.00) on shares of Summit Hotel Properties in a research report on Monday, May 15th. Finally, Zacks Investment Research raised Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $18.43.

Summit Hotel Properties (NYSE:INN) traded down 0.06% during midday trading on Friday, hitting $15.52. The stock had a trading volume of 233,585 shares. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 16.98 and a beta of 1.17. Summit Hotel Properties has a 52 week low of $12.45 and a 52 week high of $19.39. The firm has a 50 day moving average of $17.89 and a 200 day moving average of $16.88.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by $0.02. Summit Hotel Properties had a net margin of 21.97% and a return on equity of 9.89%. The business had revenue of $124.11 million for the quarter, compared to analysts’ expectations of $132.21 million. During the same period last year, the business earned $0.42 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts predict that Summit Hotel Properties will post $0.87 EPS for the current year.

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In other news, Chairman Daniel P. Hansen bought 10,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were acquired at an average cost of $15.60 per share, with a total value of $156,000.00. Following the completion of the transaction, the chairman now owns 800,256 shares of the company’s stock, valued at approximately $12,483,993.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.94% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Credit Agricole S A boosted its position 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 valued at $1,234,000 after buying an additional 28,576 shares during the last quarter. Texas Permanent School Fund boosted its position 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 valued at $1,082,000 after buying an additional 3,993 shares during the last quarter. State of Tennessee Treasury Department boosted its position 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 valued at $1,295,000 after buying an additional 12,232 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Summit Hotel Properties by 9.4% in the first quarter. Legal & General Group Plc now owns 340,548 shares of the real estate investment trust’s stock valued at $5,442,000 after buying an additional 29,155 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Summit Hotel Properties by 11.3% in the second quarter. Louisiana State Employees Retirement System now owns 42,400 shares of the real estate investment trust’s stock valued at $791,000 after buying an additional 4,300 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

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