Summit Hotel Properties, Inc. (INN) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Summit Hotel Properties, Inc. (NYSE:INN) from a buy rating to a hold rating in a report released on Wednesday.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Summit Hotel Properties from a hold rating to a buy rating and set a $21.00 target price on the stock in a research note on Thursday, July 6th. Royal Bank Of Canada reaffirmed a buy rating and issued a $18.00 target price on shares of Summit Hotel Properties in a research note on Monday, May 8th. Cantor Fitzgerald reduced their target price on Summit Hotel Properties to $19.00 and set a buy rating on the stock in a research note on Monday, June 5th. Canaccord Genuity upped their target price on Summit Hotel Properties from $18.00 to $20.00 and gave the company a buy rating in a research note on Thursday, May 25th. Finally, Deutsche Bank AG upped their target price on Summit Hotel Properties from $17.00 to $18.00 and gave the company a buy rating in a research note on Thursday, May 25th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $18.19.

Summit Hotel Properties (NYSE INN) opened at 18.21 on Wednesday. Summit Hotel Properties has a 12 month low of $12.45 and a 12 month high of $19.39. The company’s 50-day moving average price is $18.13 and its 200-day moving average price is $16.48. The stock has a market cap of $1.71 billion, a P/E ratio of 22.54 and a beta of 1.18.

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Several hedge funds and other institutional investors have recently modified their holdings of INN. Amalgamated Bank raised its position in shares of Summit Hotel Properties by 0.7% in the first quarter. Amalgamated Bank now owns 11,794 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 82 shares in the last quarter. Sei Investments Co. raised its position in shares of Summit Hotel Properties by 0.7% in the first quarter. Sei Investments Co. now owns 34,910 shares of the real estate investment trust’s stock worth $558,000 after buying an additional 232 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Summit Hotel Properties by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 89,547 shares of the real estate investment trust’s stock worth $1,431,000 after buying an additional 314 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of Summit Hotel Properties by 2.2% in the first quarter. Suntrust Banks Inc. now owns 14,371 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 315 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Summit Hotel Properties by 1.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 57,950 shares of the real estate investment trust’s stock worth $926,000 after buying an additional 1,100 shares in the last quarter. 88.11% of the stock is currently 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.

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