GSA Capital Partners LLP acquired a new stake in Summit Hotel Properties, Inc. (NYSE:INN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,796 shares of the real estate investment trust’s stock, valued at approximately $369,000.

A number of other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Summit Hotel Properties by 23.3% in the 2nd quarter. BlackRock Inc. now owns 16,762,916 shares of the real estate investment trust’s stock valued at $312,629,000 after purchasing an additional 3,170,833 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Summit Hotel Properties by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 12,990,135 shares of the real estate investment trust’s stock valued at $207,583,000 after purchasing an additional 732,109 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Summit Hotel Properties by 18.0% in the 2nd quarter. Principal Financial Group Inc. now owns 3,943,602 shares of the real estate investment trust’s stock valued at $73,548,000 after purchasing an additional 602,124 shares in the last quarter. State Street Corp lifted its holdings in Summit Hotel Properties by 49.4% in the 1st quarter. State Street Corp now owns 3,628,861 shares of the real estate investment trust’s stock valued at $57,993,000 after purchasing an additional 1,199,672 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Summit Hotel Properties by 2.1% in the 1st quarter. Macquarie Group Ltd. now owns 2,874,865 shares of the real estate investment trust’s stock valued at $45,940,000 after purchasing an additional 60,138 shares in the last quarter. Institutional investors own 95.29% of the company’s stock.

In related news, Chairman Daniel P. Hansen acquired 10,000 shares of Summit Hotel Properties stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $15.60 per share, for a total transaction of $156,000.00. Following the completion of the transaction, the chairman now directly owns 800,256 shares of the company’s stock, valued at $12,483,993.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.71% of the stock is owned by corporate insiders.

INN has been the topic of a number of research reports. Zacks Investment Research upgraded Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, July 31st. BidaskClub downgraded Summit Hotel Properties from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $17.00 target price (down from $19.00) on shares of Summit Hotel Properties in a research note on Wednesday, August 9th. Canaccord Genuity cut their target price on Summit Hotel Properties from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $20.00 target price on shares of Summit Hotel Properties in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $17.75.

Shares of Summit Hotel Properties, Inc. (INN) opened at 16.11 on Friday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 17.63 and a beta of 1.22. The firm has a 50 day moving average price of $15.43 and a 200-day moving average price of $16.75. Summit Hotel Properties, Inc. has a 52 week low of $12.45 and a 52 week high of $19.39.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $124.11 million during the quarter, compared to analysts’ expectations of $132.21 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that Summit Hotel Properties, Inc. will post $0.86 EPS for the current fiscal year.

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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 79 hotels with a total of 11,590 guestrooms located in 24 states.

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

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