Pensionfund DSM Netherlands raised its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 40.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,000 shares of the real estate investment trust’s stock after buying an additional 20,000 shares during the period. Pensionfund DSM Netherlands owned about 0.07% of Summit Hotel Properties worth $701,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in INN. Veriti Management LLC purchased a new stake in shares of Summit Hotel Properties in the fourth quarter valued at approximately $59,000. Mercer Global Advisors Inc. ADV purchased a new stake in Summit Hotel Properties during the third quarter worth $74,000. Profund Advisors LLC acquired a new position in shares of Summit Hotel Properties during the fourth quarter worth $92,000. Park Avenue Securities LLC increased its position in shares of Summit Hotel Properties by 15.8% during the fourth quarter. Park Avenue Securities LLC now owns 14,078 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 1,918 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of Summit Hotel Properties by 102.2% in the 3rd quarter. Voloridge Investment Management LLC now owns 26,206 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 13,247 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.
Several brokerages have weighed in on INN. Zacks Investment Research downgraded Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Monday, February 22nd. Raymond James raised their price target on shares of Summit Hotel Properties from $9.50 to $11.50 and gave the company an “outperform” rating in a research note on Thursday, March 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Summit Hotel Properties has an average rating of “Buy” and an average target price of $8.38.
Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Tuesday, February 23rd. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.32). Summit Hotel Properties had a negative net margin of 28.45% and a negative return on equity of 7.82%. Equities research analysts anticipate that Summit Hotel Properties, Inc. will post -0.41 EPS for the current year.
Summit Hotel Properties 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 November 3, 2020, the Company's portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guestrooms located in 23 states.
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