Lincluden Management Ltd buys $2,166,366 stake in Summit Hotel Properties Inc (INN)

Summit Hotel Properties Inc (INN) : Lincluden Management Ltd scooped up 48,181 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 21, 2016. The investment management firm now holds a total of 195,874 shares of Summit Hotel Properties Inc which is valued at $2,166,366.Summit Hotel Properties Inc makes up approximately 0.34% of Lincluden Management Ltd’s portfolio.

Summit Hotel Properties Inc opened for trading at $11.39 and hit $11.57 on the upside on Wednesday, eventually ending the session at $11.55, with a gain of 1.05% or 0.12 points. The heightened volatility saw the trading volume jump to 3,96,569 shares. Company has a market cap of $1,002 M.

Other Hedge Funds, Including , First Citizens Bank Trust Co reduced its stake in INN by selling 39,305 shares or 42.68% in the most recent quarter. The Hedge Fund company now holds 52,779 shares of INN which is valued at $583,736. Summit Hotel Properties Inc makes up approx 0.05% of First Citizens Bank Trust Co’s portfolio.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. Creative Planning sold out all of its stake in INN during the most recent quarter. The investment firm sold 366 shares of INN which is valued $4,139.

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.

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