Nisa Investment Advisors LLC reduced its position in shares of Summit Hotel Properties, Inc. (NYSE:INN – Get a rating) by 4.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor held 87,398 shares of the real estate investment trust after selling 4,252 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Summit Hotel Properties were worth $870,000 at the end of the last reporting period.
Other institutional investors have also increased or reduced their stake in the company. EverSource Wealth Advisors LLC bought a new stock position in Summit Hotel Properties in Q4 for a value of approximately $47,000. Van ECK Associates Corp increased its holdings of Summit Hotel Properties shares by 66.9% in the fourth quarter. Van ECK Associates Corp now owns 8,074 shares of the real estate investment trust worth $79,000 after buying 3,237 additional shares during the period. Schroder Investment Management Group increased its equity stake in Summit Hotel Properties by 33.6% in the fourth quarter. Schroder Investment Management Group now owns 8,934 shares of the real estate investment trust worth $87,000 after buying 2,248 additional shares during the period. Journey Strategic Wealth LLC purchased a new stock position in Summit Hotel Properties in Q4 for a value of approximately $106,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stock position in Summit Hotel Properties in Q1 for a value of approximately $140,000. Hedge funds and other institutional investors own 99.19% of the company’s shares.
Summit hotel properties are trading down 2.7%
Shares of NYSE INN opened at $7.43 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt ratio of 1.01. The company has a fifty-day simple moving average of $7.91 and a two-hundred-day simple moving average of $9.09. The company has a market capitalization of $793.67 million, a PE ratio of -12.81 and a beta of 2.03. Summit Hotel Properties, Inc. has a 12-month low of $6.70 and a 12-month high of $10.94.
Summit Hotel Properties (NYSE:INN – Get a rating) last reported results on Tuesday, May 3. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing analyst consensus estimates of $0.16 per ($0.28). Summit Hotel Properties recorded a negative net margin of 9.56% and a negative return on equity of 3.59%. During the same period of the previous year, the company achieved EPS of ($0.07). Analysts expect Summit Hotel Properties, Inc. to post earnings per share of 0.95 for the current fiscal year.
Changes to analyst ratings
Separately, TheStreet downgraded Summit Hotel Properties from a “c-” rating to a “d+” rating in a Wednesday, July 13 research note. Two equity research analysts gave the stock a sell rating and three gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.30.
About Summit Hotel Properties
Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium branded hotels with efficient operating models primarily in the upscale segment of the lodging industry . As of November 3, 2020, the Company’s portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 rooms located in 23 states.
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