Systematic Financial Management Lp reports that it sold 144,320 shares last quarter decreasing its holdings in Summit Hotel Properties, Inc.by 10.3%. (NYSE:INN) by 25.8% during the first quarter, according to its most recent Form 13F filing with the SEC.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Summit Hotel Properties by 6.0% in the first quarter.
A number of analysts recently weighed in on the stock. Daiwa Securities Group has an ownership of 7,100 stocks of the real estate investment trust's shares valued $113,000 after scooping up an extra 2,000 stocks in the previous period. Wellington Management Group LLP raised its position in Summit Hotel Properties by 1.0% in the first quarter. State Street Corp now owns 3,628,861 shares of the real estate investment trust's stock valued at $57,993,000 after buying an additional 1,199,672 shares during the period. Point72 Asia Hong Kong Ltd acquired a new position in shares of Summit Hotel Properties during the first quarter worth about $120,000. The value of the position overall is up by 5.5%. Alliancebernstein L.P. now controls 1,148,607 shares worth $21,422,000.
06/16/2015 - Summit Hotel Properties, Inc. had its "market outperform" rating reiterated by analysts at JMP Securities. The Horizon Investment Services Llc holds 21,975 shares with $352,000 value, down from 250,259 last quarter.
Summit Hotel Properties, Inc. has a 52 week low of $12.45 and a 52 week high of $19.39.
On 08/07/2017 close, Summit Hotel Properties, Inc. 985,696 shares of the company's stock traded hands. The stock has a market cap of $1.62 billion, a P/E ratio of 16.99 and a beta of 1.17. The share price has moved backward from its 20 days moving average, trading at a distance of -22.14% and stays -17.86% away from its 50 days moving average. Research Firm Zacks boosted Summit Hotel Properties from a hold recommendation to a buy recommendation and fixed a $21.00 price objective on the shares in a note on Thurs, Jul 6th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.02.
Summit Hotel Properties, Inc., launched on June 30, 2010, is a real estate investment trust (REIT). The business had revenue of $124.11 million for the quarter, compared to the consensus estimate of $132.21 million. Moreover, Royal Bancorp Of Canada has 0% invested in Summit Hotel Properties Inc (NYSE:INN). Marshall Wace Limited Liability Partnership holds 0.04% in Summit Hotel Properties Inc (NYSE:INN) or 423,817 shares. Shareholders of record on Wednesday, August 16th will be given a dividend of 0.17 per share by the real estate investment trust on Thursday, August 31st. Profund Advsr Ltd Liability Corporation owns 0.04% invested in HB Fuller Co (NYSE:FUL) for 19,174 shares. The ex-dividend date will be Friday May 12th, 2017. Latest closing price was -0.89% below its 50-day moving average and 4.52% above its 200-day moving average. Summit Hotel Properties has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings.
ILLEGAL ACTIVITY NOTICE: This piece was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of USA and worldwide trademark & copyright legislation. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2017/08/10/summit-hotel-properties-inc-nyseinn-chairman-acquires-156000-00-in-stock.html. According to Thomson Reuters, sell-side analysts are forecasting a harmony target price of $18.29 on company shares. Cantor Fitzgerald maintained the shares of INN in report on Thursday, June 29 with "Buy" rating. Bank of America upgraded Summit Hotel Properties Inc (NYSE:INN) on Friday, March 3 to "Buy" rating.
Summit Hotel Properties (NYSE:INN) previously disclosed its periodic earnings reports on early Wed, Aug 2nd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. The stock's average target of $23 is 201.84% above today's ($7.62) share price. It increased, as 22 investors sold INN shares while 72 reduced holdings. Following the completion of the transaction, the chairman now directly owns 800,256 shares of the company's stock, valued at $12,483,993.60. Insiders own 1.94% of the company's stock. State Of Tennessee Treasury Department holds 0.01% of its portfolio in Summit Hotel Properties Inc (NYSE:INN) for 68,822 shares. The Company's portfolio consists of 79 hotels with a total of 11,560 guestrooms located in 24 states.