Summit Hotel Properties, Inc. (NYSE:INN) – Research analysts at KeyCorp issued their FY2019 earnings per share (EPS) estimates for shares of Summit Hotel Properties in a report released on Tuesday. KeyCorp analyst A. Wurschmidt forecasts that the real estate investment trust will post earnings per share of $1.45 for the year. KeyCorp currently has a “Buy” rating and a $17.00 target price on the stock.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.17. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $135.69 million. Summit Hotel Properties had a net margin of 20.21% and a return on equity of 8.96%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share.

A number of other analysts have also commented on INN. Zacks Investment Research lowered shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Janney Montgomery Scott lowered shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research report on Monday, November 20th. Robert W. Baird reissued a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a research report on Friday, September 8th. Cantor Fitzgerald reissued a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a research report on Monday, November 20th. Finally, Raymond James Financial raised shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price objective on the stock in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $17.50.

Shares of Summit Hotel Properties (NYSE:INN) traded down $0.01 during mid-day trading on Thursday, hitting $15.24. 850,280 shares of the stock were exchanged, compared to its average volume of 707,692. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market capitalization of $1,590.00, a price-to-earnings ratio of 18.59 and a beta of 1.18. Summit Hotel Properties has a twelve month low of $14.23 and a twelve month high of $19.39.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Thursday, November 16th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Wednesday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 82.93%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elgethun Capital Management raised its position in Summit Hotel Properties by 0.6% during the second quarter. Elgethun Capital Management now owns 41,959 shares of the real estate investment trust’s stock worth $783,000 after acquiring an additional 243 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Summit Hotel Properties by 1.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,169 shares of the real estate investment trust’s stock worth $283,000 after acquiring an additional 250 shares in the last quarter. M&T Bank Corp raised its position in Summit Hotel Properties by 3.0% during the second quarter. M&T Bank Corp now owns 13,673 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 402 shares in the last quarter. Aperio Group LLC raised its position in Summit Hotel Properties by 2.8% during the second quarter. Aperio Group LLC now owns 30,382 shares of the real estate investment trust’s stock worth $567,000 after acquiring an additional 835 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in Summit Hotel Properties by 20.1% during the second quarter. Ameritas Investment Partners Inc. now owns 8,982 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 1,506 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

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Summit Hotel Properties Company 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 79 hotels with a total of 11,590 guestrooms located in 24 states.

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