UBS Asset Management Americas Inc. Has $3.95 Million Holdings in Summit Hotel Properties, Inc. (INN)

UBS Asset Management Americas Inc. boosted its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 34.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,707 shares of the real estate investment trust’s stock after purchasing an additional 54,094 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.20% of Summit Hotel Properties worth $3,948,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacad Investment Ltd. bought a new position in Summit Hotel Properties in the 2nd quarter worth about $114,000. Riverhead Capital Management LLC boosted its stake in Summit Hotel Properties by 120.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,828 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 3,728 shares during the period. Ameritas Investment Partners Inc. bought a new position in Summit Hotel Properties in the 1st quarter worth about $119,000. Point72 Asia Hong Kong Ltd bought a new position in Summit Hotel Properties in the 1st quarter worth about $120,000. Finally, GAM Holding AG boosted its stake in Summit Hotel Properties by 25.7% in the 2nd quarter. GAM Holding AG now owns 8,803 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 95.29% of the company’s stock.

TRADEMARK VIOLATION WARNING: “UBS Asset Management Americas Inc. Has $3.95 Million Holdings in Summit Hotel Properties, Inc. (INN)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://ledgergazette.com/2017/10/11/ubs-asset-management-americas-inc-has-3-95-million-holdings-in-summit-hotel-properties-inc-inn.html.

In other Summit Hotel Properties news, Chairman Daniel P. Hansen acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average price of $15.60 per share, with a total value of $156,000.00. Following the completion of the purchase, the chairman now directly owns 800,256 shares in the company, valued at approximately $12,483,993.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.71% of the company’s stock.

Shares of Summit Hotel Properties, Inc. (INN) opened at 16.07 on Wednesday. The company has a market cap of $1.68 billion, a P/E ratio of 17.58 and a beta of 1.22. The stock’s 50 day moving average price is $15.28 and its 200-day moving average price is $16.75. Summit Hotel Properties, Inc. has a 12 month low of $12.45 and a 12 month high of $19.39.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The business had revenue of $124.11 million during the quarter, compared to the consensus estimate of $132.21 million. Summit Hotel Properties had a return on equity of 9.89% and a net margin of 21.97%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. Equities research analysts expect that Summit Hotel Properties, Inc. will post $0.86 earnings per share for the current year.

Several research analysts have commented on INN shares. Robert W. Baird restated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Summit Hotel Properties in a research note on Friday, June 16th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Summit Hotel Properties in a research note on Friday, July 14th. Zacks Investment Research upgraded Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, July 6th. BidaskClub downgraded Summit Hotel Properties from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Finally, KeyCorp restated a “hold” rating on shares of Summit Hotel Properties in a research note on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Summit Hotel Properties has an average rating of “Hold” and a consensus price target of $17.75.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacad Investment Ltd. bought a new position in Summit Hotel Properties in the 2nd quarter worth about $114,000. Riverhead Capital Management LLC boosted its stake in Summit Hotel Properties by 120.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,828 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 3,728 shares during the period. Ameritas Investment Partners Inc. bought a new position in Summit Hotel Properties in the 1st quarter worth about $119,000. Point72 Asia Hong Kong Ltd bought a new position in Summit Hotel Properties in the 1st quarter worth about $120,000. Finally, GAM Holding AG boosted its stake in Summit Hotel Properties by 25.7% in the 2nd quarter. GAM Holding AG now owns 8,803 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 95.29% of the company’s stock.

TRADEMARK VIOLATION WARNING: “UBS Asset Management Americas Inc. Has $3.95 Million Holdings in Summit Hotel Properties, Inc. (INN)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this news story can be read at https://ledgergazette.com/2017/10/11/ubs-asset-management-americas-inc-has-3-95-million-holdings-in-summit-hotel-properties-inc-inn.html.

In other Summit Hotel Properties news, Chairman Daniel P. Hansen acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average price of $15.60 per share, with a total value of $156,000.00. Following the completion of the purchase, the chairman now directly owns 800,256 shares in the company, valued at approximately $12,483,993.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.71% of the company’s stock.

Shares of Summit Hotel Properties, Inc. (INN) opened at 16.07 on Wednesday. The company has a market cap of $1.68 billion, a P/E ratio of 17.58 and a beta of 1.22. The stock’s 50 day moving average price is $15.28 and its 200-day moving average price is $16.75. Summit Hotel Properties, Inc. has a 12 month low of $12.45 and a 12 month high of $19.39.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The business had revenue of $124.11 million during the quarter, compared to the consensus estimate of $132.21 million. Summit Hotel Properties had a return on equity of 9.89% and a net margin of 21.97%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. Equities research analysts expect that Summit Hotel Properties, Inc. will post $0.86 earnings per share for the current year.

Several research analysts have commented on INN shares. Robert W. Baird restated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Summit Hotel Properties in a research note on Friday, June 16th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Summit Hotel Properties in a research note on Friday, July 14th. Zacks Investment Research upgraded Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, July 6th. BidaskClub downgraded Summit Hotel Properties from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Finally, KeyCorp restated a “hold” rating on shares of Summit Hotel Properties in a research note on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Summit Hotel Properties has an average rating of “Hold” and a consensus price target of $17.75.

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 79 hotels with a total of 11,590 guestrooms located in 24 states.

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

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