Summit Hotel Properties Inc (INN) Shares Sold by Loeb Partners Corp

Loeb Partners Corp lessened its stake in Summit Hotel Properties Inc (NYSE:INN) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,400 shares of the real estate investment trust’s stock after selling 6,000 shares during the quarter. Loeb Partners Corp’s holdings in Summit Hotel Properties were worth $364,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new position in shares of Summit Hotel Properties in the fourth quarter valued at approximately $75,000. Usca Ria LLC acquired a new position in shares of Summit Hotel Properties in the third quarter valued at approximately $142,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Summit Hotel Properties in the third quarter valued at approximately $142,000. Accident Compensation Corp acquired a new position in shares of Summit Hotel Properties in the third quarter valued at approximately $144,000. Finally, First Republic Investment Management Inc. acquired a new position in shares of Summit Hotel Properties in the third quarter valued at approximately $162,000. Institutional investors own 99.87% of the company’s stock.

INN has been the subject of a number of research analyst reports. Bank of America lowered shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 23rd. ValuEngine lowered shares of Summit Hotel Properties from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Zacks Investment Research lowered shares of Summit Hotel Properties from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Raymond James reduced their price objective on Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Finally, Deutsche Bank reduced their price objective on Summit Hotel Properties from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.86.

NYSE:INN opened at $11.37 on Friday. Summit Hotel Properties Inc has a twelve month low of $9.29 and a twelve month high of $15.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 8.49 and a beta of 1.45.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 6.33%. The ex-dividend date is Wednesday, February 13th. Summit Hotel Properties’s payout ratio is 53.73%.

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Summit Hotel Properties Company Profile

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 October 30, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,659 guestrooms located in 26 states.

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

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