Nomura Asset Management Co. Ltd. Has $964,000 Position in Summit Hotel Properties, Inc. (INN)

Nomura Asset Management Co. Ltd. reduced its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 10.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,300 shares of the real estate investment trust’s stock after selling 6,900 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.06% of Summit Hotel Properties worth $964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elgethun Capital Management raised its holdings in Summit Hotel Properties by 0.6% in the second quarter. Elgethun Capital Management now owns 41,959 shares of the real estate investment trust’s stock worth $783,000 after purchasing an additional 243 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Summit Hotel Properties by 1.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,169 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 250 shares during the period. M&T Bank Corp raised its holdings in Summit Hotel Properties by 3.0% in the second quarter. M&T Bank Corp now owns 13,673 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 402 shares during the period. Aperio Group LLC raised its holdings in Summit Hotel Properties by 2.8% in the second quarter. Aperio Group LLC now owns 30,382 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 835 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in Summit Hotel Properties by 20.1% in the second quarter. Ameritas Investment Partners Inc. now owns 8,982 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 1,506 shares during the period. Institutional investors and hedge funds own 95.71% of the company’s stock.

Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Cantor Fitzgerald reiterated a “buy” rating and issued a $17.00 target price on shares of Summit Hotel Properties in a report on Monday, November 20th. Janney Montgomery Scott lowered shares of Summit Hotel Properties from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Raymond James Financial upgraded shares of Summit Hotel Properties from a “market perform” rating to an “outperform” rating and set a $17.50 target price on the stock in a report on Monday, October 30th. Finally, KeyCorp set a $17.00 target price on shares of Summit Hotel Properties and gave the stock a “buy” rating in a report on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $17.50.

Shares of Summit Hotel Properties, Inc. (NYSE:INN) opened at $15.01 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.64. Summit Hotel Properties, Inc. has a 12-month low of $14.23 and a 12-month high of $19.39. The stock has a market cap of $1,565.20, a price-to-earnings ratio of 11.29 and a beta of 1.18.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Thursday, November 16th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Wednesday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 82.93%.

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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 79 hotels with a total of 11,590 guestrooms located in 24 states.

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

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