Summit Hotel Properties, Inc. (NYSE:INN) COO Purchases $11,640.00 in Stock

Summit Hotel Properties, Inc. (NYSE:INN) COO Craig J. Aniszewski purchased 750 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $15.52 per share, for a total transaction of $11,640.00. Following the acquisition, the chief operating officer now owns 321,075 shares of the company’s stock, valued at $4,983,084. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of Summit Hotel Properties, Inc. (NYSE INN) traded up 0.65% during midday trading on Thursday, reaching $15.53. The company’s stock had a trading volume of 985,696 shares. Summit Hotel Properties, Inc. has a 1-year low of $12.45 and a 1-year high of $19.39. The company has a market capitalization of $1.62 billion, a P/E ratio of 16.99 and a beta of 1.17. The stock has a 50 day moving average of $17.99 and a 200-day moving average of $16.89.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.36 EPS for the quarter, missing the consensus estimate of $0.38 by $0.02. Summit Hotel Properties had a net margin of 21.97% and a return on equity of 9.89%. The firm had revenue of $124.11 million during the quarter, compared to analyst estimates of $132.21 million. During the same quarter in the previous year, the business posted $0.42 EPS. Summit Hotel Properties’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Summit Hotel Properties, Inc. will post $0.87 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 16th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 4.38%. Summit Hotel Properties’s payout ratio is currently 75.56%.

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A number of research firms recently issued reports on INN. Cantor Fitzgerald raised their price target on Summit Hotel Properties from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, May 25th. Deutsche Bank AG raised their price target on Summit Hotel Properties from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. UBS AG lowered Summit Hotel Properties from an “outperform” rating to a “market perform” rating in a report on Friday, July 14th. Zacks Investment Research raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $18.00 price target on shares of Summit Hotel Properties in a report on Monday, May 8th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $18.43.

Several large investors have recently made changes to their positions in INN. Amalgamated Bank raised its stake in shares of Summit Hotel Properties by 0.7% in the first quarter. Amalgamated Bank now owns 11,794 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 82 shares during the last quarter. Sei Investments Co. raised its stake in shares of Summit Hotel Properties by 0.7% in the first quarter. Sei Investments Co. now owns 34,910 shares of the real estate investment trust’s stock valued at $558,000 after buying an additional 232 shares during the last quarter. Elgethun Capital Management raised its stake in shares of Summit Hotel Properties by 0.6% in the second quarter. Elgethun Capital Management now owns 41,959 shares of the real estate investment trust’s stock valued at $783,000 after buying an additional 243 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Summit Hotel Properties by 1.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,169 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 250 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Summit Hotel Properties by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 89,547 shares of the real estate investment trust’s stock valued at $1,431,000 after buying an additional 314 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Summit Hotel Properties Company Profile

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 81 hotels with a total of 11,608 guestrooms located in 24 states.

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