Equities research analysts expect that Summit Hotel Properties Inc (NYSE:INN) will report $0.29 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Summit Hotel Properties’ earnings, with estimates ranging from $0.27 to $0.32. Summit Hotel Properties reported earnings per share of $0.30 during the same quarter last year, which suggests a negative year over year growth rate of 3.3%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Summit Hotel Properties will report full year earnings of $1.32 per share for the current year, with EPS estimates ranging from $1.31 to $1.36. For the next year, analysts anticipate that the firm will report earnings of $1.47 per share, with EPS estimates ranging from $1.45 to $1.52. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Summit Hotel Properties.
Several analysts have issued reports on INN shares. KeyCorp set a $17.00 price target on shares of Summit Hotel Properties and gave the stock a “buy” rating in a research report on Sunday, October 29th. Raymond James Financial upgraded shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price objective on the stock in a report on Monday, October 30th. Zacks Investment Research upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Janney Montgomery Scott downgraded shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a report on Monday, November 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.50.
Large investors have recently added to or reduced their stakes in the business. Monarch Partners Asset Management LLC acquired a new position in shares of Summit Hotel Properties in the fourth quarter valued at about $5,408,000. Victory Capital Management Inc. acquired a new position in shares of Summit Hotel Properties in the fourth quarter valued at about $18,187,000. Mutual of America Capital Management LLC grew its stake in shares of Summit Hotel Properties by 5.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 110,240 shares of the real estate investment trust’s stock valued at $1,679,000 after acquiring an additional 6,175 shares in the last quarter. Dupont Capital Management Corp grew its stake in shares of Summit Hotel Properties by 86.8% in the fourth quarter. Dupont Capital Management Corp now owns 85,886 shares of the real estate investment trust’s stock valued at $1,308,000 after acquiring an additional 39,908 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Summit Hotel Properties by 0.9% in the fourth quarter. Jennison Associates LLC now owns 1,075,484 shares of the real estate investment trust’s stock valued at $16,380,000 after acquiring an additional 9,642 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.
Shares of Summit Hotel Properties (NYSE:INN) opened at $15.20 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.64. Summit Hotel Properties has a 1 year low of $14.23 and a 1 year high of $19.39. The stock has a market cap of $1,585.01, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.22.
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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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