Two Sigma Advisers LP Purchases 57,285 Shares of Summit Hotel Properties Inc (INN)

Two Sigma Advisers LP increased its position in shares of Summit Hotel Properties Inc (NYSE:INN) by 197.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,300 shares of the real estate investment trust’s stock after buying an additional 57,285 shares during the period. Two Sigma Advisers LP owned about 0.08% of Summit Hotel Properties worth $840,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC increased its stake in shares of Summit Hotel Properties by 0.9% during the fourth quarter. ClariVest Asset Management LLC now owns 117,500 shares of the real estate investment trust’s stock worth $1,143,000 after buying an additional 1,000 shares during the period. State of Alaska Department of Revenue increased its stake in Summit Hotel Properties by 1.7% in the fourth quarter. State of Alaska Department of Revenue now owns 68,735 shares of the real estate investment trust’s stock valued at $667,000 after purchasing an additional 1,127 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Summit Hotel Properties by 2.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 66,300 shares of the real estate investment trust’s stock valued at $645,000 after purchasing an additional 1,300 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Summit Hotel Properties by 11.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 16,200 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Summit Hotel Properties by 11.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,875 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 99.87% of the company’s stock.

Shares of INN opened at $11.70 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $1.24 billion, a PE ratio of 8.63 and a beta of 1.45. Summit Hotel Properties Inc has a 12-month low of $9.29 and a 12-month high of $15.61.

Several equities analysts have commented on INN shares. KeyCorp set a $13.00 price target on shares of Summit Hotel Properties and gave the company a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research lowered shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. Finally, Bank of America lowered shares of Summit Hotel Properties from a “neutral” rating to an “underperform” rating in a research note on Monday, January 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $13.75.

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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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