Institutional Investors Are Buying Summit Hotel Properties Inc (NYSE:INN)

(NYSE:INN) by 28.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372,806 shares of the real estate investment trust’s stock after selling 12,641 shares during the period. Vanguard Group Inc. increased its position in Summit Hotel Properties by 6.0% in the first quarter. Bank of America downgraded the shares of INN in report on Tuesday, July 21 to “Underperform” rating. Finally, Geode Capital Management LLC raised its position in Summit Hotel Properties by 42.8% 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 last quarter. Teachers Advisors LLC now owns 1,244,187 shares of the real estate investment trust’s stock worth $23,204,000 after buying an additional 83,482 shares during the last quarter. Bank of Montreal Can raised its position in Summit Hotel Properties by 25.2% in the first quarter.

Among 2 analysts covering Safeguard Scientifics (NYSE:SFE), 2 have Buy rating, 0 Sell and 0 Hold. LS Investment Advisors LLC increased its position in shares of Summit Hotel Properties by 161.8% in the first quarter. Summit Hotel Properties had 22 analyst reports since July 21, 2015 according to SRatingsIntel. Summit Hotel Properties, Inc.is now trading -12.25% below its 20-day and -4.70% versus the 200-day simple moving averages while -15.30% compared with its 50-day simple moving average.

In related news, Chairman Daniel P. Hansen purchased 10,000 shares of Summit Hotel Properties stock in a transaction dated Wednesday, August 9th. The firm has a market capitalization of $1.62 billion, a P/E ratio of 16.99 and a beta of 1.17.

COPYRIGHT VIOLATION NOTICE: “Fisher Asset Management LLC Has $1.49 Million Stake in Summit Hotel Properties, Inc“. (INN)’s latest closing price distance was 2.07% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -9.79% and -7.19% compared with the 20 Day Moving Average.

A look at some of the inputs to technical analysis model shows how Summit Hotel Properties, Inc. current price compares to its recent moving averages. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.02. Blackrock Advsr Limited Liability has invested 0% in Summit Hotel Properties Inc (NYSE:INN). During the same period in the previous year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Wednesday, August 2nd. Investors of record on Wednesday, August 16th will be given a dividend of $0.17 per share. Summit Hotel Properties’s payout ratio is now 75.56%.

ILLEGAL ACTIVITY NOTICE: This piece was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & global copyright & trademark laws. The legal version of this piece can be viewed at https://transcriptdaily.com/2017/08/10/summit-hotel-properties-inc-inn-receives-18-19-consensus-price-target-from-analysts-updated.html.

These firms have also modified their investment in INN. Schroder Invest Gru holds 0% of its portfolio in Summit Hotel Properties Inc (NYSE:INN) for 61,200 shares. The stock of Summit Hotel Properties Inc (NYSE:INN) has “Buy” rating given on Monday, August 7 by RBC Capital Markets.

12/07/2015 – Summit Research began new coverage on Summit Hotel Properties, Inc. giving the company a “buy” rating. Cantor Fitzgerald reiterated a “buy” rating and set a $18.00 price target (up previously from $17.00) on shares of Summit Hotel Properties in a report on Friday, May 12th. Going from the most negative analyst price target to above consensus is one thing. The shares were bought at an average price of $15.60 per share, for a total transaction of $156,000.00. Franklin Resources Inc owns 745,753 shares with a value of $13,908,000. Corporate insiders own 1.94% of the company’s stock.

05/25/2017 – Summit Hotel Properties, Inc. had its “overweight” rating reiterated by analysts at Cantor Fitzgerald. The Firm is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry.