Summit Hotel Properties Inc (INN) Receives $16.21 Consensus Target Price from Analysts
Summit Hotel Properties Inc (NYSE:INN) has earned an average rating of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $16.58.
Several equities research analysts have recently commented on the stock. Bank of America downgraded shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Zacks Investment Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, ValuEngine downgraded shares of Summit Hotel Properties from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd.
Shares of NYSE:INN remained flat at $$11.35 on Friday. 1,018,086 shares of the stock traded hands, compared to its average volume of 611,643. Summit Hotel Properties has a 1-year low of $10.91 and a 1-year high of $16.35. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $1.19 billion, a P/E ratio of 8.47, a P/E/G ratio of 5.19 and a beta of 1.21.
A number of hedge funds and other institutional investors have recently bought and sold shares of INN. BlackRock Inc. lifted its position in Summit Hotel Properties by 8.5% during the second quarter. BlackRock Inc. now owns 17,499,148 shares of the real estate investment trust’s stock valued at $250,413,000 after purchasing an additional 1,371,193 shares during the period. Duff & Phelps Investment Management Co. lifted its position in Summit Hotel Properties by 205.1% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,823,875 shares of the real estate investment trust’s stock valued at $26,100,000 after purchasing an additional 1,226,150 shares during the period. Northern Trust Corp lifted its position in Summit Hotel Properties by 39.7% during the second quarter. Northern Trust Corp now owns 2,675,449 shares of the real estate investment trust’s stock valued at $38,286,000 after purchasing an additional 760,506 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Summit Hotel Properties during the second quarter valued at $10,777,000. Finally, Federated Investors Inc. PA acquired a new position in Summit Hotel Properties during the second quarter valued at $10,523,000. Institutional investors own 99.12% of the company’s stock.
About Summit Hotel Properties
Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of August 1, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,657 guestrooms located in 26 states.
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