120,719 Shares in Summit Hotel Properties Inc (INN) Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. bought a new position in Summit Hotel Properties Inc (NYSE:INN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 120,719 shares of the real estate investment trust’s stock, valued at approximately $1,923,000. Russell Investments Group Ltd. owned 0.14% of Summit Hotel Properties at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Summit Hotel Properties by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 1,573,514 shares of the real estate investment trust’s stock valued at $20,707,000 after buying an additional 137,587 shares during the period. Teachers Advisors LLC increased its stake in Summit Hotel Properties by 0.8% in the third quarter. Teachers Advisors LLC now owns 1,119,993 shares of the real estate investment trust’s stock valued at $14,739,000 after buying an additional 9,138 shares during the period. BlackRock Fund Advisors increased its stake in Summit Hotel Properties by 9.8% in the third quarter. BlackRock Fund Advisors now owns 6,075,163 shares of the real estate investment trust’s stock valued at $79,949,000 after buying an additional 541,011 shares during the period. First Trust Advisors LP increased its stake in Summit Hotel Properties by 154.7% in the third quarter. First Trust Advisors LP now owns 463,866 shares of the real estate investment trust’s stock valued at $6,104,000 after buying an additional 281,771 shares during the period. Finally, SECOR Capital Advisors LP bought a new stake in Summit Hotel Properties during the third quarter valued at $1,080,000. 92.76% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Summit Hotel Properties Inc (NYSE:INN) traded up 0.72% during midday trading on Friday, reaching $16.79. 911,089 shares of the company were exchanged. The company has a market capitalization of $1.57 billion, a PE ratio of 16.79 and a beta of 1.01. The stock’s 50-day moving average price is $15.67 and its 200-day moving average price is $14.98. Summit Hotel Properties Inc has a 52-week low of $10.99 and a 52-week high of $16.89.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Thursday, February 23rd. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.27. The business had revenue of $110.33 million for the quarter, compared to the consensus estimate of $110.08 million. Summit Hotel Properties had a net margin of 38.34% and a return on equity of 19.64%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Analysts anticipate that Summit Hotel Properties Inc will post $0.68 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The original version of this report can be read at https://www.com-unik.info/2017/04/21/russell-investments-group-ltd-buys-new-position-in-summit-hotel-properties-inc-inn-updated-updated.html.

Several equities analysts have commented on INN shares. Canaccord Genuity restated a “buy” rating and issued a $17.00 price target (up previously from $15.00) on shares of Summit Hotel Properties in a research note on Friday, December 23rd. Zacks Investment Research upgraded shares of Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, January 10th. Cantor Fitzgerald restated a “buy” rating on shares of Summit Hotel Properties in a research note on Thursday, February 23rd. Finally, Bank of America Corp upgraded shares of Summit Hotel Properties from an “underperform” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Friday, March 3rd. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Summit Hotel Properties currently has a consensus rating of “Buy” and an average price target of $16.88.

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 82 hotels with over 11,095 guestrooms located in 23 states.

5 Day Chart for NYSE:INN

What are top analysts saying about Summit Hotel Properties Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Summit Hotel Properties Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit