Summit Hotel Properties (INN) has risen sharply, recording gains of 6.7% in the past 4 weeks. However, the stock has corrected -0.98% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.23% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 2.48% and the 50-Day Moving Average is 10.7%. Summit Hotel Properties, Inc. is up 24.39% in the last 3-month period. Year-to-Date the stock performance stands at 18.66%.
Summit Hotel Properties (NYSE:INN): stock turned positive on Friday. Though the stock opened at $13.93, the bulls momentum made the stock top out at $14.21 level for the day. The stock recorded a low of $13.915 and closed the trading day at $14.18, in the green by 1.29%. The total traded volume for the day was 1,105,744. The stock had closed at $14 in the previous days trading.
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 Companys portfolio included 93 hotels with a total of 11,933 guestrooms located in 23 states. Approximately 61 of its hotel properties with 8,169 guestrooms are categorized as upscale hotels and 29 of its hotel properties with 3,294 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 Companys 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.