Summit Hotel Properties Inc (INN) : Gradient Investments scooped up 78,193 additional shares in Summit Hotel Properties Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 13, 2016. The investment management firm now holds a total of 362,071 shares of Summit Hotel Properties Inc which is valued at $4,174,679.Summit Hotel Properties Inc makes up approximately 0.51% of Gradient Investments’s portfolio.
Summit Hotel Properties Inc closed down -0.03 points or -0.26% at $11.5 with 3,49,444 shares getting traded on Monday. Post opening the session at $11.5, the shares hit an intraday low of $11.44 and an intraday high of $11.55 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Other Hedge Funds, Including , Independent Portfolio Consultants reduced its stake in INN by selling 215 shares or 1.47% in the most recent quarter. The Hedge Fund company now holds 14,430 shares of INN which is valued at $166,378. Summit Hotel Properties Inc makes up approx 0.05% of Independent Portfolio Consultants’s portfolio.Central Trust Co boosted its stake in INN in the latest quarter, The investment management firm added 1,466 additional shares and now holds a total of 4,841 shares of Summit Hotel Properties Inc which is valued at $55,817.Capstone Asset Management Co reduced its stake in INN by selling 1,720 shares or 8.11% in the most recent quarter. The Hedge Fund company now holds 19,490 shares of INN which is valued at $224,720. Summit Hotel Properties Inc makes up approx 0.01% of Capstone Asset Management Co’s portfolio.
On the company’s financial health, Summit Hotel Properties Inc reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 24, 2016. Analyst had a consensus of $0.23. The company had revenue of $110.04 million for the quarter, compared to analysts expectations of $107.40 million. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.
Many Wall Street Analysts have commented on Summit Hotel Properties Inc. Shares were Reiterated by RBC Capital Mkts on Mar 1, 2016 to “Outperform” and Lowered the Price Target to $ 14 from a previous price target of $15 .
Summit Hotel Properties Inc. (Summit REIT) is a real estate investment trust (REIT). The Company is a self-managed hotel investment company. It focuses primarily on acquiring and owning select-service hotels in the upscale and upper-midscale segments of the United States lodging industry. As of July 8 2015 the Company’s portfolio included 93 hotels with a total of 11933 guestrooms located in 23 states. Approximately 61 of its hotel properties with 8169 guestrooms are categorized as upscale hotels and 29 of its hotel properties with 3294 guestrooms are categorized as upper-midscale hotels. The Company holds both general and limited partnership interests in Summit Hotel OP LP (the Operating Partnership). Over 97.4% of the Company’s hotel guestrooms operate under franchise brands owned by Marriott Hilton IHG and an affiliate of Hyatt. Its hotels are located in markets such as business and corporate headquarters retail centers airports and tourist attractions.