News coverage about Summit Hotel Properties (NYSE:INN) has trended somewhat positive on Wednesday, Accern reports. The research firm rates the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Summit Hotel Properties earned a coverage optimism score of 0.13 on Accern’s scale. Accern also gave news headlines about the real estate investment trust an impact score of 46.6450839289533 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
- Summit Hotel Properties (INN) Receives “Buy” Rating from Royal Bank of Canada (americanbankingnews.com)
- Summit Hotel Properties (INN) Given a $16.00 Price Target by Robert W. Baird Analysts (americanbankingnews.com)
- Deutsche Bank Cuts Summit Hotel Properties (INN) Price Target to $16.00 (americanbankingnews.com)
- Summit Hotel Properties (INN) Earns “Buy” Rating from Cantor Fitzgerald (americanbankingnews.com)
- Summit Hotel Properties, Inc. to Host Earnings Call (finance.yahoo.com)
A number of brokerages have recently weighed in on INN. Robert W. Baird set a $16.00 price target on shares of Summit Hotel Properties and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $16.00 price target on shares of Summit Hotel Properties in a research note on Tuesday. Deutsche Bank reduced their price target on shares of Summit Hotel Properties from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Monday. Cantor Fitzgerald set a $17.00 price target on shares of Summit Hotel Properties and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Zacks Investment Research lowered shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.83.
Summit Hotel Properties (NYSE:INN) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.25. Summit Hotel Properties had a net margin of 19.25% and a return on equity of 8.41%. The business had revenue of $131.75 million for the quarter, compared to the consensus estimate of $126.28 million. During the same period in the previous year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. analysts predict that Summit Hotel Properties will post 1.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Friday, February 16th will be issued a $0.18 dividend. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date of this dividend is Thursday, February 15th. Summit Hotel Properties’s payout ratio is presently 90.00%.
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About Summit Hotel Properties
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 83 hotels with a total of 12,242 guestrooms located in 26 states.
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