Summit Hotel Properties Inc (INN) Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC lifted its stake in Summit Hotel Properties Inc (NYSE:INN) by 47.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,402,992 shares of the real estate investment trust’s stock after purchasing an additional 448,699 shares during the quarter. GW&K Investment Management LLC owned 1.35% of Summit Hotel Properties worth $21,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Westpac Banking Corp lifted its position in shares of Summit Hotel Properties by 6.3% in the fourth quarter. Westpac Banking Corp now owns 378,616 shares of the real estate investment trust’s stock worth $5,766,000 after purchasing an additional 22,450 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Summit Hotel Properties by 9.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,231,554 shares of the real estate investment trust’s stock worth $18,757,000 after purchasing an additional 111,278 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Summit Hotel Properties by 30.8% in the fourth quarter. Wasatch Advisors Inc. now owns 866,239 shares of the real estate investment trust’s stock worth $13,193,000 after purchasing an additional 203,858 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Summit Hotel Properties by 485.9% in the third quarter. GSA Capital Partners LLP now owns 115,990 shares of the real estate investment trust’s stock worth $1,855,000 after purchasing an additional 96,194 shares in the last quarter. Finally, Piedmont Investment Advisors LLC lifted its position in shares of Summit Hotel Properties by 351.4% in the third quarter. Piedmont Investment Advisors LLC now owns 101,725 shares of the real estate investment trust’s stock worth $1,627,000 after purchasing an additional 79,189 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Summit Hotel Properties Inc (NYSE:INN) opened at $15.56 on Friday. Summit Hotel Properties Inc has a twelve month low of $14.23 and a twelve month high of $19.39. The company has a market capitalization of $1,611.07, a P/E ratio of 18.98 and a beta of 1.19. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.64.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Summit Hotel Properties had a return on equity of 8.96% and a net margin of 20.21%. The firm had revenue of $136.60 million for the quarter, compared to the consensus estimate of $135.69 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. analysts expect that Summit Hotel Properties Inc will post 1.25 EPS for the current fiscal year.

A number of analysts have recently issued reports on INN shares. KeyCorp raised shares of Summit Hotel Properties from a “sector weight” rating to an “overweight” rating and set a $17.00 price target for the company in a research report on Tuesday, September 26th. Zacks Investment Research downgraded Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Raymond James Financial upgraded Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 price objective on the stock in a report on Monday, October 30th. Janney Montgomery Scott downgraded Summit Hotel Properties from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $17.00 price objective on shares of Summit Hotel Properties in a report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Summit Hotel Properties has an average rating of “Buy” and a consensus price target of $17.50.

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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 83 hotels with a total of 12,242 guestrooms located in 26 states.

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

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