Summit Hotel Properties (INN) : 8 analysts are covering Summit Hotel Properties (INN) and their average rating on the stock is 1.88, which is read as a Buy. 4 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Summit Hotel Properties (INN) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. 1 more analyst has given the stock a Sell recommendation. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Summit Hotel Properties (INN) : The consensus price target for Summit Hotel Properties (INN) is $14.64 for the short term with a standard deviation of $0.85. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $16, however, the pessimist price target for the company is $13.
For the current week, the company shares have a recommendation consensus of Buy. Also, In the latest statement by the brokerage house, JMP Securities maintains its outlook on Summit Hotel Properties (NYSE:INN). The current rating of the shares is Market Outperform, according to the research report released by the firm. The brokerage firm raises the price target from $14 per share to $15.5 per share. The rating by the firm was issued on August 4, 2016.
Summit Hotel Properties (NYSE:INN): The stock opened at $13.78 and touched an intraday high of $13.84 on Wednesday. During the day, the stock corrected to an intraday low of $13.53, however, the bulls stepped in and pushed the price higher to close in the green at $13.79 with a gain of 0.44% for the day. The total traded volume for the day was 711,296. The stock had closed at $13.73 in the previous trading session.
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.