QS Investors LLC lessened its stake in Summit Hotel Properties Inc (NYSE:INN) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 264,276 shares of the real estate investment trust’s stock after selling 15,601 shares during the period. QS Investors LLC owned about 0.25% of Summit Hotel Properties worth $4,025,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at about $177,000. M&T Bank Corp bought a new stake in shares of Summit Hotel Properties in the 4th quarter valued at about $215,000. Accident Compensation Corp bought a new stake in shares of Summit Hotel Properties in the 4th quarter valued at about $350,000. Hartford Investment Management Co. bought a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at about $358,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at about $391,000. 98.76% of the stock is owned by institutional investors.
Summit Hotel Properties Inc (INN) opened at $13.60 on Friday. Summit Hotel Properties Inc has a twelve month low of $12.77 and a twelve month high of $19.39. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $1,403.19, a PE ratio of 17.00, a P/E/G ratio of 4.79 and a beta of 1.31.
Summit Hotel Properties (NYSE:INN) last posted its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.25. Summit Hotel Properties had a return on equity of 8.41% and a net margin of 19.25%. The firm had revenue of $131.75 million for the quarter, compared to the consensus estimate of $126.28 million. During the same quarter in the prior year, the business earned $0.30 EPS. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. equities analysts forecast that Summit Hotel Properties Inc will post 1.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Friday, February 16th were issued a dividend of $0.18 per share. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.29%. Summit Hotel Properties’s dividend payout ratio is 90.00%.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Thursday, November 23rd. Janney Montgomery Scott lowered Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research note on Monday, November 20th. Cantor Fitzgerald restated a “buy” rating and set a $17.00 price target on shares of Summit Hotel Properties in a report on Monday, November 20th. Deutsche Bank reduced their price target on Summit Hotel Properties from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, February 26th. Finally, Robert W. Baird set a $16.00 price target on Summit Hotel Properties and gave the company a “buy” rating in a report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Summit Hotel Properties currently has an average rating of “Hold” and a consensus target price of $16.83.
TRADEMARK VIOLATION NOTICE: This piece of content was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was illegally copied and republished in violation of international copyright legislation. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/03/17/qs-investors-llc-sells-15601-shares-of-summit-hotel-properties-inc-inn.html.
Summit Hotel Properties 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.