The stock of Summit Hotel Properties Inc (NYSE:INN) is a huge mover today! The stock decreased 2.06% or $0.27 on October 5, hitting $12.83. Summit Hotel Properties Inc (NYSE:INN) has risen 15.62% since March 2, 2016 and is uptrending. It has outperformed by 7.36% the S&P500.
The move comes after 8 months negative chart setup for the $1.13 billion company. It was reported on Oct, 6 by Barchart.com. We have $12.06 PT which if reached, will make NYSE:INN worth $67.80 million less.
Analysts await Summit Hotel Properties Inc (NYSE:INN) to report earnings on November, 7. They expect $0.32 EPS, down 13.51% or $0.05 from last year’s $0.37 per share. INN’s profit will be $28.18 million for 10.02 P/E if the $0.32 EPS becomes a reality. After $0.42 actual EPS reported by Summit Hotel Properties Inc for the previous quarter, Wall Street now forecasts -23.81% negative EPS growth.
Summit Hotel Properties Inc (NYSE:INN) Ratings Coverage
Out of 4 analysts covering Summit Hotel Properties (NYSE:INN), 3 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 75% are positive. Summit Hotel Properties has been the topic of 11 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was initiated by Janney Capital on Thursday, March 10 with “Buy”. Bank of America downgraded Summit Hotel Properties Inc (NYSE:INN) rating on Tuesday, July 21. Bank of America has “Underperform” rating and $14.5 price target. The firm has “Buy” rating given on Friday, January 8 by BB&T Capital. The firm earned “Outperform” rating on Monday, January 4 by RBC Capital Markets. The rating was upgraded by Robert W. Baird on Friday, August 28 to “Outperform”.
According to Zacks Investment Research, “Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused primarily on owning premium-branded, select-service hotels in the upscale and upper midscale segments of the lodging industry.”
Insitutional Activity: The institutional sentiment increased to 1.58 in Q2 2016. Its up 0.32, from 1.26 in 2016Q1. The ratio improved, as 15 funds sold all Summit Hotel Properties Inc shares owned while 54 reduced positions. 29 funds bought stakes while 80 increased positions. They now own 81.38 million shares or 1.52% more from 80.16 million shares in 2016Q1.
Blackrock Fund Advisors owns 5.53 million shares or 0.02% of their US portfolio. Utd Services Automobile Association owns 545,070 shares or 0.03% of their US portfolio. Profund Advsrs Ltd Liability owns 16,129 shares or 0.01% of their US portfolio. Thrivent For Lutherans last reported 0.03% of its portfolio in the stock. Bridgeway Cap Mngmt owns 229,000 shares or 0.05% of their US portfolio. Bank Of America Corp De holds 0% of its portfolio in Summit Hotel Properties Inc (NYSE:INN) for 562,138 shares. Moreover, Jacobus Wealth Mgmt has 0.25% invested in Summit Hotel Properties Inc (NYSE:INN) for 60,936 shares. Wellington Mgmt Llp last reported 4.03 million shares in the company. Investment Centers Of America owns 1.05 million shares or 2.65% of their US portfolio. Moreover, Numeric Invsts Limited Liability has 0.26% invested in Summit Hotel Properties Inc (NYSE:INN) for 2.23M shares. Pinebridge Investments Ltd Partnership accumulated 0.01% or 11,064 shares. Victory Mgmt Inc holds 0% of its portfolio in Summit Hotel Properties Inc (NYSE:INN) for 55,640 shares. Moreover, Amp Cap Invsts Limited has 0% invested in Summit Hotel Properties Inc (NYSE:INN) for 11,622 shares. Vsr Fincl Service reported 21,107 shares or 0.05% of all its holdings. Natl Bank Of Montreal Can accumulated 745,601 shares or 0.01% of the stock.
More notable recent Summit Hotel Properties Inc (NYSE:INN) news were published by: Prnewswire.com which released: “Summit Hotel Properties Announces the Redemption of 9.25% Series A Cumulative …” on September 08, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: Summit Hotel Properties, Duke Realty and Manulife Financial” published on August 10, 2016, Prnewswire.com published: “Summit Hotel Properties Reports Second Quarter 2016 Results” on August 02, 2016. More interesting news about Summit Hotel Properties Inc (NYSE:INN) were released by: Prnewswire.com and their article: “Summit Hotel Properties Prices Public Offering Of 6.45% Series D Cumulative …” published on June 21, 2016 as well as Prnewswire.com‘s news article titled: “Summit Hotel Properties Reports Fourth Quarter And Full Year 2015 Results” with publication date: February 24, 2016.
INN Company Profile
Summit Hotel Properties, Inc., incorporated on June 30, 2010, is a holding firm and conducts all of its activities through its operating partnership. The Firm is a real estate investments trust (REIT) and self-managed hotel investment company. The Firm operates in the segment of activities related to investing in real estate. The Firm is focused on owning premium-branded, select-service hotels in the Upscale and Upper-midscale divisions of the United States lodging industry. The Firm holds both general and limited partnership interests in Summit Hotel OP, LP (the Operating Partnership). The Company’s hotels are leased to subsidiaries (TRS Lessees) of Summit Hotel TRS, Inc., its taxable REIT subsidiary (TRS).
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