Summit Hotel Properties Inc (INN) Shares Bought by Guggenheim Capital LLC

Guggenheim Capital LLC boosted its position in shares of Summit Hotel Properties Inc (NYSE:INN) by 470.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,883 shares of the real estate investment trust’s stock after buying an additional 100,507 shares during the period. Guggenheim Capital LLC owned about 0.14% of Summit Hotel Properties worth $1,953,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in INN. Russell Investments Group Ltd. acquired a new position in shares of Summit Hotel Properties during the fourth quarter worth approximately $1,923,000. JPMorgan Chase & Co. increased its position in shares of Summit Hotel Properties by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 1,573,514 shares of the real estate investment trust’s stock worth $20,707,000 after buying an additional 137,587 shares during the period. Teachers Advisors LLC increased its position in shares of Summit Hotel Properties by 0.8% in the third quarter. Teachers Advisors LLC now owns 1,119,993 shares of the real estate investment trust’s stock worth $14,739,000 after buying an additional 9,138 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Summit Hotel Properties by 9.8% in the third quarter. BlackRock Fund Advisors now owns 6,075,163 shares of the real estate investment trust’s stock worth $79,949,000 after buying an additional 541,011 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Summit Hotel Properties by 154.7% in the third quarter. First Trust Advisors LP now owns 463,866 shares of the real estate investment trust’s stock worth $6,104,000 after buying an additional 281,771 shares during the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

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

Summit Hotel Properties Inc (NYSE:INN) traded up 0.79% during midday trading on Thursday, hitting $16.66. 257,078 shares of the stock traded hands. Summit Hotel Properties Inc has a one year low of $10.99 and a one year high of $16.69. The company’s 50 day moving average is $15.64 and its 200-day moving average is $14.97. The company has a market cap of $1.56 billion, a P/E ratio of 16.66 and a beta of 1.01.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.27. Summit Hotel Properties had a net margin of 38.34% and a return on equity of 19.64%. The company earned $110.33 million during the quarter, compared to analyst estimates of $110.08 million. During the same quarter last year, the firm posted $0.27 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts forecast that Summit Hotel Properties Inc will post $0.68 EPS for the current fiscal year.

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A number of brokerages have recently weighed in on INN. Zacks Investment Research lowered shares of Summit Hotel Properties from a “buy” rating to a “hold” rating in a report on Tuesday, February 14th. Bank of America Corp raised shares of Summit Hotel Properties from an “underperform” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, March 3rd. Canaccord Genuity reaffirmed a “buy” rating and issued a $17.00 price target (up from $15.00) on shares of Summit Hotel Properties in a report on Friday, December 23rd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Summit Hotel Properties in a report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Summit Hotel Properties currently has an average rating of “Buy” and a consensus price target of $16.88.

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 81 hotels with over 10,957 guestrooms located in 23 states.

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