Summit Hotel Properties Llc (INN) Position Lifted by Raymond James & Associates

Raymond James & Associates increased its holdings in Summit Hotel Properties Llc (NYSE:INN) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 227,495 shares of the real estate investment trust’s stock after acquiring an additional 16,347 shares during the quarter. Raymond James & Associates owned approximately 0.22% of Summit Hotel Properties worth $3,465,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in INN. Nationwide Fund Advisors lifted its stake in shares of Summit Hotel Properties by 23.4% in the third quarter. Nationwide Fund Advisors now owns 325,021 shares of the real estate investment trust’s stock worth $5,197,000 after acquiring an additional 61,599 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Summit Hotel Properties by 72.1% in the third quarter. New York State Common Retirement Fund now owns 188,300 shares of the real estate investment trust’s stock worth $3,011,000 after acquiring an additional 78,900 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Summit Hotel Properties by 26.3% in the third quarter. Russell Investments Group Ltd. now owns 200,170 shares of the real estate investment trust’s stock worth $3,200,000 after acquiring an additional 41,662 shares in the last quarter. American International Group Inc. lifted its stake in shares of Summit Hotel Properties by 5.7% in the third quarter. American International Group Inc. now owns 81,266 shares of the real estate investment trust’s stock worth $1,299,000 after acquiring an additional 4,393 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Summit Hotel Properties by 9.8% in the third quarter. Legal & General Group Plc now owns 465,190 shares of the real estate investment trust’s stock worth $7,439,000 after acquiring an additional 41,678 shares in the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.

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Several research analysts recently commented on the company. ValuEngine cut Summit Hotel Properties from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada reiterated a “buy” rating and issued a $16.00 price target on shares of Summit Hotel Properties in a research note on Tuesday, February 27th. Robert W. Baird set a $16.00 price objective on Summit Hotel Properties and gave the company a “buy” rating in a research note on Monday, February 26th. Deutsche Bank cut their price objective on Summit Hotel Properties from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 26th. Finally, Cantor Fitzgerald set a $17.00 price objective on Summit Hotel Properties and gave the company a “buy” rating in a research note on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Summit Hotel Properties presently has a consensus rating of “Hold” and a consensus target price of $16.83.

Shares of NYSE INN opened at $13.63 on Friday. Summit Hotel Properties Llc has a 52-week low of $12.77 and a 52-week high of $19.39. The company has a market cap of $1,438.66, a price-to-earnings ratio of 10.17, a PEG ratio of 4.91 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.29 and a current ratio of 1.29.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $126.28 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Summit Hotel Properties’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities research analysts predict that Summit Hotel Properties Llc will post 1.36 EPS for the current fiscal year.

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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 February 21, 2018, the Company's portfolio consisted of 83 hotels with a total of 12,242 guestrooms located in 26 states.

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

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