Summit Hotel Properties (NYSE:INN) Lifted to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Summit Hotel Properties (NYSE:INN) from a sell rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused primarily on owning premium-branded, select-service hotels in the upscale and upper midscale segments of the lodging industry. “

INN has been the subject of a number of other reports. Deutsche Bank reaffirmed a buy rating and set a $14.00 price objective on shares of Summit Hotel Properties in a report on Sunday, April 21st. ValuEngine raised shares of Yirendai from a strong sell rating to a sell rating in a report on Friday, May 3rd. Capital One Financial started coverage on shares of Summit Hotel Properties in a report on Tuesday, June 25th. They set an equal weight rating and a $13.00 price objective for the company. Finally, TheStreet lowered shares of Viewray from a c- rating to a d rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $13.60.

Shares of INN opened at $11.26 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.34 and a current ratio of 1.34. Summit Hotel Properties has a 1 year low of $9.29 and a 1 year high of $14.79. The firm’s 50 day moving average is $11.52. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 8.34 and a beta of 1.23.

Several hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. grew its holdings in shares of Summit Hotel Properties by 0.5% in the fourth quarter. Macquarie Group Ltd. now owns 3,599,365 shares of the real estate investment trust’s stock valued at $35,022,000 after purchasing an additional 17,600 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Summit Hotel Properties by 16.5% in the first quarter. Westwood Holdings Group Inc. now owns 2,927,687 shares of the real estate investment trust’s stock valued at $33,405,000 after purchasing an additional 413,811 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of Summit Hotel Properties by 4.3% in the first quarter. Systematic Financial Management LP now owns 1,911,330 shares of the real estate investment trust’s stock valued at $21,808,000 after purchasing an additional 78,323 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Summit Hotel Properties by 7.2% in the first quarter. Clearbridge Investments LLC now owns 1,860,366 shares of the real estate investment trust’s stock valued at $21,227,000 after purchasing an additional 125,179 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Summit Hotel Properties by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,795,501 shares of the real estate investment trust’s stock valued at $17,470,000 after purchasing an additional 82,382 shares in the last quarter. 99.87% of the stock is owned by hedge funds and other institutional investors.

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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