Trade Report: The Summit Hotel Properties Inc. (INN) Given a $16.00 Price Target by Canaccord Genuity Analysts

The Summit Hotel Properties Inc. (INN) Given a $16.00 Price Target by Canaccord Genuity Analysts

Summit Hotel Properties Inc. (NYSE:INN) has been given a $16.00 price objective by equities research analysts at Canaccord Genuity in a research note issued on Wednesday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity’s target price would indicate a potential upside of 12.76% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 20th. JMP Securities raised their price target on Summit Hotel Properties from $14.00 to $15.50 and gave the stock a “market outperform” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $17.22.

Summit Hotel Properties (NYSE:INN) traded up 0.07% during midday trading on Wednesday, hitting $14.19. The company had a trading volume of 150,226 shares. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 7.56 and a beta of 0.92. Summit Hotel Properties has a 52-week low of $9.00 and a 52-week high of $14.58. The stock has a 50 day moving average of $13.32 and a 200 day moving average of $13.26.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.04. Summit Hotel Properties had a return on equity of 19.64% and a net margin of 38.34%. The firm earned $118.34 million during the quarter, compared to the consensus estimate of $117.99 million. During the same period last year, the business posted $0.37 EPS. Summit Hotel Properties’s quarterly revenue was down 5.4% on a year-over-year basis. On average, analysts anticipate that Summit Hotel Properties will post $1.37 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $0.1625 per share. This is a boost from Summit Hotel Properties’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.65 annualized dividend and a dividend yield of 4.58%. Summit Hotel Properties’s dividend payout ratio (DPR) is 34.57%.

Several large investors have recently bought and sold shares of INN. Hsbc Holdings PLC boosted its position in shares of Summit Hotel Properties by 1.4% in the second quarter. Hsbc Holdings PLC now owns 12,775 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 176 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Summit Hotel Properties by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 38,600 shares of the real estate investment trust’s stock worth $511,000 after buying an additional 200 shares during the last quarter. AMP Capital Investors Ltd boosted its position in shares of Summit Hotel Properties by 1.7% in the third quarter. AMP Capital Investors Ltd now owns 11,822 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 200 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Summit Hotel Properties by 1.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 27,100 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 320 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Summit Hotel Properties by 1.8% in the third quarter. US Bancorp DE now owns 22,378 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 406 shares during the last quarter. Institutional investors and hedge funds own 93.02% of the company’s stock.

Summit Hotel Properties Company Profile

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