Summit Hotel Properties’ (NYSE:INN) “Market Perform” Rating Reaffirmed at Raymond James Financial, Inc.

Raymond James Financial, Inc. reissued their market perform rating on shares of Summit Hotel Properties, Inc. (NYSE:INN) in a research note issued to investors on Friday morning, MarketBeat.com reports.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald increased their target price on shares of Summit Hotel Properties from $18.00 to $19.00 and gave the stock an overweight rating in a report on Thursday, May 25th. Deutsche Bank AG increased their target price on shares of Summit Hotel Properties from $17.00 to $18.00 and gave the stock a buy rating in a report on Thursday, May 25th. UBS AG lowered shares of Summit Hotel Properties from an outperform rating to a market perform rating in a report on Friday. Canaccord Genuity increased their target price on shares of Summit Hotel Properties from $18.00 to $20.00 and gave the stock a buy rating in a report on Thursday, May 25th. Finally, Zacks Investment Research upgraded shares of Summit Hotel Properties from a sell rating to a hold rating in a report on Tuesday, May 9th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Summit Hotel Properties presently has an average rating of Buy and a consensus price target of $18.19.

Shares of Summit Hotel Properties (NYSE:INN) traded up 2.30% during mid-day trading on Friday, reaching $18.21. 1,099,620 shares of the company’s stock traded hands. Summit Hotel Properties has a 52 week low of $12.45 and a 52 week high of $19.39. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 22.54 and a beta of 1.18. The company’s 50 day moving average is $18.13 and its 200-day moving average is $16.48.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another publication, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this news story can be viewed at https://www.com-unik.info/2017/07/17/summit-hotel-properties-nyseinn-market-perform-rating-reaffirmed-at-raymond-james-financial-inc.html.

Several hedge funds and other institutional investors have recently made changes to their positions in INN. Daiwa Securities Group Inc. increased its position in shares of Summit Hotel Properties by 39.2% in the first quarter. Daiwa Securities Group Inc. now owns 7,100 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 2,000 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Summit Hotel Properties during the first quarter worth approximately $119,000. Point72 Asia Hong Kong Ltd purchased a new position in shares of Summit Hotel Properties during the first quarter worth approximately $120,000. LS Investment Advisors LLC increased its position in shares of Summit Hotel Properties by 161.8% in the first quarter. LS Investment Advisors LLC now owns 8,536 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 5,275 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of Summit Hotel Properties during the first quarter worth approximately $162,000. 88.11% of the stock is owned by institutional investors.

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 81 hotels with a total of 11,608 guestrooms located in 24 states.

Analyst Recommendations for Summit Hotel Properties (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