Raymond James Financial, Inc. reissued their market perform rating on shares of Summit Hotel Properties, Inc. (NYSE:INN) in a research note published on Friday, July 14th, Marketbeat reports.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Summit Hotel Properties from a hold rating to a buy rating and set a $21.00 price objective for the company in a research note on Thursday, July 6th. BidaskClub cut Summit Hotel Properties from a strong-buy rating to a buy rating in a research note on Friday, June 30th. Royal Bank Of Canada reiterated a buy rating and issued a $18.00 price objective on shares of Summit Hotel Properties in a research note on Monday, May 8th. Cantor Fitzgerald decreased their price objective on Summit Hotel Properties to $19.00 and set a buy rating for the company in a research note on Monday, June 5th. Finally, Canaccord Genuity lifted their price objective 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Summit Hotel Properties presently has an average rating of Buy and an average price target of $18.43.
Shares of Summit Hotel Properties (NYSE:INN) opened at 15.71 on Friday. The stock has a 50 day moving average of $17.80 and a 200-day moving average of $16.88. Summit Hotel Properties has a 52 week low of $12.45 and a 52 week high of $19.39. The stock has a market cap of $1.64 billion, a PE ratio of 17.19 and a beta of 1.17.
Summit Hotel Properties (NYSE:INN) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $124.11 million for the quarter, compared to analysts’ expectations of $132.21 million. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that Summit Hotel Properties will post $0.87 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Summit Hotel Properties, Inc. (NYSE:INN) Stock Rating Reaffirmed by Raymond James Financial, Inc.” was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.com-unik.info/2017/08/12/summit-hotel-properties-nyseinn-market-perform-rating-reaffirmed-at-raymond-james-financial-inc-updated-updated-updated.html.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Monday, August 14th. Summit Hotel Properties’s dividend payout ratio (DPR) is 75.56%.
In related news, Chairman Daniel P. Hansen bought 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $15.60 per share, with a total value of $156,000.00. Following the completion of the acquisition, the chairman now owns 800,256 shares in the company, valued at approximately $12,483,993.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.94% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Advisors LLC raised its position in Summit Hotel Properties by 17.4% in the first quarter. Boston Advisors LLC now owns 439,890 shares of the real estate investment trust’s stock worth $7,029,000 after buying an additional 65,300 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Summit Hotel Properties by 8.5% in the first quarter. Louisiana State Employees Retirement System now owns 38,100 shares of the real estate investment trust’s stock worth $609,000 after buying an additional 3,000 shares during the last quarter. Alpha Windward LLC bought a new position in Summit Hotel Properties during the first quarter worth about $479,000. Bank of Montreal Can raised its position in Summit Hotel Properties by 25.2% in the first quarter. Bank of Montreal Can now owns 187,150 shares of the real estate investment trust’s stock worth $2,992,000 after buying an additional 37,695 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Summit Hotel Properties by 0.7% in the fourth quarter. Teachers Advisors LLC now owns 1,128,150 shares of the real estate investment trust’s stock worth $18,084,000 after buying an additional 8,157 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.
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.
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.