Summit Hotel Properties Inc (NYSE:INN) Shares Sold by NN Investment Partners Holdings N.V.

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NN Investment Partners Holdings N.V. lessened its holdings in shares of Summit Hotel Properties Inc (NYSE:INN) by 97.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,073 shares of the real estate investment trust’s stock after selling 1,131,035 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Summit Hotel Properties were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in shares of Summit Hotel Properties by 17.6% during the 1st quarter. State Street Corp now owns 6,567,708 shares of the real estate investment trust’s stock worth $27,716,000 after acquiring an additional 982,192 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Summit Hotel Properties by 3.7% during the 4th quarter. Nuveen Asset Management LLC now owns 4,270,298 shares of the real estate investment trust’s stock worth $52,696,000 after acquiring an additional 153,523 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Summit Hotel Properties by 10.1% during the 4th quarter. Macquarie Group Ltd. now owns 4,242,861 shares of the real estate investment trust’s stock worth $52,357,000 after acquiring an additional 388,947 shares during the period. GW&K Investment Management LLC raised its holdings in Summit Hotel Properties by 5.7% in the 1st quarter. GW&K Investment Management LLC now owns 2,135,574 shares of the real estate investment trust’s stock valued at $9,012,000 after buying an additional 115,981 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Summit Hotel Properties by 5.0% in the 1st quarter. Geode Capital Management LLC now owns 1,904,400 shares of the real estate investment trust’s stock valued at $8,036,000 after buying an additional 91,076 shares during the period. 98.47% of the stock is currently owned by institutional investors.

Shares of Summit Hotel Properties stock opened at $5.18 on Friday. Summit Hotel Properties Inc has a one year low of $2.32 and a one year high of $12.59. The company has a market cap of $544.78 million, a PE ratio of 14.00 and a beta of 2.09. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.09 and a current ratio of 2.09. The business has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $7.06.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.34). Summit Hotel Properties had a return on equity of 4.51% and a net margin of 10.49%. The company had revenue of $108.39 million for the quarter, compared to analyst estimates of $110.52 million. On average, sell-side analysts predict that Summit Hotel Properties Inc will post -0.18 earnings per share for the current fiscal year.

Several brokerages recently issued reports on INN. Robert W. Baird reduced their price objective on shares of Summit Hotel Properties from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. ValuEngine upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Bank of America upgraded shares of Summit Hotel Properties from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $7.00 in a research note on Monday, June 1st. Raymond James cut their price target on shares of Summit Hotel Properties from $9.00 to $7.50 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, KeyCorp cut their price target on shares of Summit Hotel Properties from $13.00 to $8.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $10.00.

Summit Hotel Properties Company Profile

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 April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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Institutional Ownership by Quarter for Summit Hotel Properties (NYSE:INN)

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