QS Investors LLC Sells 15,601 Shares of Summit Hotel Properties Llc (NYSE:INN)

QS Investors LLC cut its stake in shares of Summit Hotel Properties Llc (NYSE:INN) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. 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 0.25% of Summit Hotel Properties worth $4,025,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Prudential Financial Inc. lifted its position in shares of Summit Hotel Properties by 48.5% in the third quarter. Prudential Financial Inc. now owns 973,365 shares of the real estate investment trust’s stock valued at $15,564,000 after buying an additional 317,971 shares during the last quarter. Swiss National Bank lifted its position in shares of Summit Hotel Properties by 3.2% in the fourth quarter. Swiss National Bank now owns 175,700 shares of the real estate investment trust’s stock valued at $2,676,000 after buying an additional 5,400 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Summit Hotel Properties by 26.3% during 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 purchasing an additional 41,662 shares during the period. Suntrust Banks Inc. increased its stake in shares of Summit Hotel Properties by 40.6% during the fourth quarter. Suntrust Banks Inc. now owns 153,655 shares of the real estate investment trust’s stock worth $2,339,000 after purchasing an additional 44,366 shares during the period. Finally, Vident Investment Advisory LLC increased its stake 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 worth $1,936,000 after purchasing an additional 8,953 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.

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A number of equities 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, February 1st. Deutsche Bank lowered their target price 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. Cantor Fitzgerald set a $17.00 target price on Summit Hotel Properties and gave the stock a “buy” rating in a research note on Friday, February 23rd. Robert W. Baird set a $16.00 price objective on Summit Hotel Properties and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, ValuEngine lowered Summit Hotel Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.83.

Shares of NYSE INN traded down $0.05 during mid-day trading on Friday, hitting $13.63. 741,337 shares of the stock traded hands, compared to its average volume of 756,947. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.68. Summit Hotel Properties Llc has a twelve month low of $12.77 and a twelve month high of $19.39. The company has a market cap of $1,421.98, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 4.86 and a beta of 1.23.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share 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 company had revenue of $131.75 million for the quarter, compared to the consensus estimate of $126.28 million. During the same quarter last year, the business posted $0.30 EPS. Summit Hotel Properties’s revenue for the quarter was up 19.4% on a year-over-year basis. research analysts anticipate that Summit Hotel Properties Llc will post 1.36 earnings per share 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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