Summit Hotel Properties Inc (INN) Shares Bought by Westpac Banking Corp

Westpac Banking Corp lifted its stake in Summit Hotel Properties Inc (NYSE:INN) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 378,616 shares of the real estate investment trust’s stock after purchasing an additional 22,450 shares during the period. Westpac Banking Corp owned about 0.36% of Summit Hotel Properties worth $5,766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its stake in Summit Hotel Properties by 9.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,231,554 shares of the real estate investment trust’s stock worth $18,757,000 after acquiring an additional 111,278 shares during the period. Wasatch Advisors Inc. lifted its position in shares of Summit Hotel Properties by 30.8% during the fourth quarter. Wasatch Advisors Inc. now owns 866,239 shares of the real estate investment trust’s stock valued at $13,193,000 after buying an additional 203,858 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Summit Hotel Properties by 485.9% during the third quarter. GSA Capital Partners LLP now owns 115,990 shares of the real estate investment trust’s stock valued at $1,855,000 after buying an additional 96,194 shares during the last quarter. Piedmont Investment Advisors LLC lifted its position in shares of Summit Hotel Properties by 351.4% during the third quarter. Piedmont Investment Advisors LLC now owns 101,725 shares of the real estate investment trust’s stock valued at $1,627,000 after buying an additional 79,189 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its position in shares of Summit Hotel Properties by 8.0% during the third quarter. Vident Investment Advisory LLC now owns 121,051 shares of the real estate investment trust’s stock valued at $1,936,000 after buying an additional 8,953 shares during the last quarter. Hedge funds and other institutional investors own 96.93% of the company’s stock.

Several analysts have commented on INN shares. Raymond James Financial raised shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price target for the company in a research report on Monday, October 30th. Zacks Investment Research raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. KeyCorp set a $17.00 price objective on shares of Summit Hotel Properties and gave the company a “buy” rating in a research report on Sunday, October 29th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a research report on Monday, November 20th. Finally, 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. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Summit Hotel Properties presently has an average rating of “Hold” and a consensus target price of $17.50.

Shares of Summit Hotel Properties Inc (NYSE INN) traded down $0.03 during midday trading on Monday, hitting $14.39. 793,256 shares of the stock were exchanged, compared to its average volume of 803,935. The firm has a market cap of $1,500.00, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. Summit Hotel Properties Inc has a twelve month low of $13.94 and a twelve month high of $19.39. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.64.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.18 per share. This is a boost from Summit Hotel Properties’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.00%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 82.93%.

TRADEMARK VIOLATION NOTICE: “Summit Hotel Properties Inc (INN) Shares Bought by Westpac Banking Corp” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & international copyright laws. The legal version of this piece of content can be read at https://www.dispatchtribunal.com/2018/02/12/westpac-banking-corp-increases-stake-in-summit-hotel-properties-inc-inn.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.

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

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.

Leave a Reply