Brokerages Set Summit Hotel Properties Inc (NYSE:INN) Target Price at $13.50

Summit Hotel Properties Inc (NYSE:INN) has earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $13.50.

Several analysts recently weighed in on INN shares. Capital One Financial upgraded shares of Summit Hotel Properties from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $13.50 in a report on Monday. ValuEngine raised Summit Hotel Properties from a “strong sell” rating to a “sell” rating in a research report on Friday, January 10th. TheStreet lowered Summit Hotel Properties from a “b-” rating to a “c+” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reissued a “buy” rating and issued a $13.00 target price on shares of Summit Hotel Properties in a research report on Sunday, December 22nd. Finally, Zacks Investment Research lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday.

Hedge funds have recently bought and sold shares of the business. Trinity Legacy Partners LLC purchased a new stake in Summit Hotel Properties in the fourth quarter valued at about $180,000. State of Alaska Department of Revenue boosted its holdings in shares of Summit Hotel Properties by 21.7% during the fourth quarter. State of Alaska Department of Revenue now owns 108,672 shares of the real estate investment trust’s stock worth $1,340,000 after purchasing an additional 19,407 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of Summit Hotel Properties by 2.6% during the third quarter. Metropolitan Life Insurance Co NY now owns 39,250 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 992 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Summit Hotel Properties by 608.6% during the third quarter. Millennium Management LLC now owns 251,503 shares of the real estate investment trust’s stock worth $2,917,000 after purchasing an additional 216,011 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Summit Hotel Properties during the third quarter worth $619,000.

NYSE:INN opened at $12.16 on Tuesday. The stock has a market cap of $1.27 billion, a P/E ratio of 9.01 and a beta of 1.19. The firm’s fifty day simple moving average is $12.12 and its 200 day simple moving average is $11.74. Summit Hotel Properties has a twelve month low of $10.49 and a twelve month high of $12.63. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.70.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.24). The company had revenue of $133.69 million during the quarter, compared to the consensus estimate of $133.52 million. Summit Hotel Properties had a net margin of 14.44% and a return on equity of 6.64%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. On average, analysts expect that Summit Hotel Properties will post 1.2 EPS for the current fiscal year.

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 April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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