Summit Hotel Properties (NYSE:INN - Get Free Report) was upgraded by investment analysts at Bank of America from an "underperform" rating to a "neutral" rating in a research note issued to investors on Wednesday,Finviz reports. The firm currently has a $5.00 price objective on the real estate investment trust's stock. Bank of America's price target would suggest a potential upside of 23.30% from the stock's current price.
Summit Hotel Properties Stock Down 0.4 %
Shares of Summit Hotel Properties stock opened at $4.06 on Wednesday. The stock has a market capitalization of $451.65 million, a price-to-earnings ratio of 405.50, a PEG ratio of 1.54 and a beta of 1.78. Summit Hotel Properties has a twelve month low of $3.57 and a twelve month high of $7.22. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The business's 50 day simple moving average is $5.13 and its 200-day simple moving average is $6.08.
Institutional Trading of Summit Hotel Properties
Large investors have recently modified their holdings of the company. Barclays PLC grew its position in Summit Hotel Properties by 40.2% in the 3rd quarter. Barclays PLC now owns 1,193,305 shares of the real estate investment trust's stock worth $8,185,000 after purchasing an additional 342,408 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Summit Hotel Properties during the third quarter worth approximately $91,000. Franklin Resources Inc. boosted its position in shares of Summit Hotel Properties by 115.6% during the third quarter. Franklin Resources Inc. now owns 121,534 shares of the real estate investment trust's stock worth $803,000 after buying an additional 65,175 shares during the period. Nisa Investment Advisors LLC grew its holdings in Summit Hotel Properties by 14.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 92,477 shares of the real estate investment trust's stock worth $633,000 after buying an additional 11,839 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Summit Hotel Properties in the 4th quarter valued at approximately $147,000. Institutional investors and hedge funds own 96.47% of the company's stock.
About Summit Hotel Properties
(
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Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company's portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.
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