Summit Hotel Properties, Inc. (INN) Receives “Outperform” Rating from Robert W. Baird

Summit Hotel Properties, Inc. (NYSE:INN)‘s stock had its “outperform” rating reissued by investment analysts at Robert W. Baird in a report issued on Friday. They presently have a $18.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $17.00. Robert W. Baird’s price target would indicate a potential downside of 4.71% from the stock’s previous close.

A number of other brokerages also recently issued reports on INN. Cantor Fitzgerald decreased their price objective on Summit Hotel Properties to $19.00 and set a “buy” rating on the stock in a research report on Monday, June 5th. ValuEngine upgraded Summit Hotel Properties from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 6th. Canaccord Genuity upped their price objective on Summit Hotel Properties from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Deutsche Bank AG upped their price objective on Summit Hotel Properties from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Finally, Royal Bank of Canada restated a “buy” rating and set a $18.00 price objective on shares of Summit Hotel Properties in a research report on Monday, May 8th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $17.94.

Analyst Recommendations for Summit Hotel Properties (NYSE:INN)

Summit Hotel Properties (INN) traded down 0.32% during trading on Friday, reaching $18.89. The company had a trading volume of 2,758,411 shares. The firm’s 50 day moving average is $17.56 and its 200 day moving average is $16.17. Summit Hotel Properties has a one year low of $11.90 and a one year high of $19.15. The company has a market capitalization of $1.77 billion, a PE ratio of 23.38 and a beta of 1.18.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Tuesday, May 16th were paid a $0.17 dividend. The ex-dividend date was Friday, May 12th. This represents a $0.68 annualized dividend and a yield of 3.60%. This is a boost from Summit Hotel Properties’s previous quarterly dividend of $0.16. Summit Hotel Properties’s dividend payout ratio is 85.00%.

ILLEGAL ACTIVITY NOTICE: “Summit Hotel Properties, Inc. (INN) Receives “Outperform” Rating from Robert W. Baird” was first posted by sleekmoney and is the sole property of of sleekmoney. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://sleekmoney.com/summit-hotel-properties-inc-inn-receives-outperform-rating-from-robert-w-baird/1915978.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Summit Hotel Properties by 7,558.2% in the first quarter. BlackRock Inc. now owns 13,592,083 shares of the real estate investment trust’s stock valued at $217,201,000 after buying an additional 13,414,600 shares during the period. Vanguard Group Inc. boosted its position in shares of Summit Hotel Properties by 6.0% in the first quarter. Vanguard Group Inc. now owns 12,990,135 shares of the real estate investment trust’s stock valued at $207,583,000 after buying an additional 732,109 shares during the period. Wellington Management Group LLP boosted its position in shares of Summit Hotel Properties by 1.0% in the first quarter. Wellington Management Group LLP now owns 4,118,206 shares of the real estate investment trust’s stock valued at $65,808,000 after buying an additional 40,438 shares during the period. State Street Corp boosted its position in shares of Summit Hotel Properties by 49.4% 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. Finally, Principal Financial Group Inc. boosted its position in shares of Summit Hotel Properties by 24.5% in the first quarter. Principal Financial Group Inc. now owns 3,341,478 shares of the real estate investment trust’s stock valued at $53,397,000 after buying an additional 656,792 shares during the period. 87.21% of the stock is currently owned by institutional investors.

About Summit Hotel Properties

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 76 hotels with over 10,705 guestrooms located in 22 states.

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/summit-hotel-properties-inc-inn-receives-outperform-rating-from-robert-w-baird/1915978.html

Receive News & Ratings for Summit Hotel Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Hotel Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *