Summit Hotel Properties Inc (NYSE:INN) has been given a consensus recommendation of “Hold” by the thirteen analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $16.44.
Several brokerages have weighed in on INN. Zacks Investment Research lowered shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. Janney Montgomery Scott lowered shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research report on Monday, November 20th. Cantor Fitzgerald restated a “buy” rating and set a $17.00 target price on shares of Summit Hotel Properties in a research report on Monday, November 20th. Deutsche Bank lowered their target price on shares of Summit Hotel Properties from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Finally, Robert W. Baird set a $16.00 target price on shares of Summit Hotel Properties and gave the stock a “buy” rating in a research report on Monday, February 26th.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Elkfork Partners LLC purchased a new stake in shares of Summit Hotel Properties in the fourth quarter valued at about $183,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Summit Hotel Properties in the fourth quarter valued at about $200,000. Envestnet Asset Management Inc. lifted its holdings in shares of Summit Hotel Properties by 22.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,973 shares of the real estate investment trust’s stock valued at $669,000 after purchasing an additional 8,112 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Summit Hotel Properties in the fourth quarter valued at about $733,000. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Summit Hotel Properties by 8.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,747,576 shares of the real estate investment trust’s stock valued at $26,616,000 after purchasing an additional 132,435 shares in the last quarter. 98.76% of the stock is currently owned by institutional investors.
Summit Hotel Properties (NYSE:INN) last issued its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.25. Summit Hotel Properties had a net margin of 19.25% and a return on equity of 8.41%. The company had revenue of $131.75 million for the quarter, compared to analyst estimates of $126.28 million. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities analysts forecast that Summit Hotel Properties will post 1.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.17. Summit Hotel Properties’s dividend payout ratio is 90.00%.
TRADEMARK VIOLATION WARNING: “Analysts Set Summit Hotel Properties Inc (INN) Target Price at $16.44” was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://stocknewstimes.com/2018/03/13/analysts-set-summit-hotel-properties-inc-inn-target-price-at-16-44.html.
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 83 hotels with a total of 12,242 guestrooms located in 26 states.
Receive News & Ratings for Summit Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Hotel Properties and related companies with MarketBeat.com's FREE daily email newsletter.