News stories about Summit Hotel Properties (NYSE:INN) have been trending positive this week, according to AlphaOne. AlphaOne, a service of Accern, scores the sentiment of media coverage by monitoring more than 20 million news and blog sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Summit Hotel Properties earned a news impact score of 0.39 on AlphaOne’s scale. AlphaOne also assigned press coverage about the real estate investment trust an impact score of 65 out of 100, indicating that recent media coverage is somewhat likely to have an effect on the stock’s share price in the next several days.
Here are some of the news stories that may have impacted Alpha One Sentiment Analysis’s analysis:
- Summit Hotel Properties Inc (INN) Issues FY17 Earnings Guidance (leisuretravelaid.com)
- Summit Hotel Properties, Inc. Posted losses of -2.15% in the Last Trade (badhub.net)
- Deutsche Bank AG Boosts Summit Hotel Properties Inc (INN) Price Target to $18.00 (americanbankingnews.com)
- Public company buys Fort Lauderdale beachfront hotel for $83M (bizjournals.com)
- Summit Hotel Properties’ (INN) Overweight Rating Reaffirmed at Cantor Fitzgerald (americanbankingnews.com)
Summit Hotel Properties (NYSE:INN) traded up 0.50% during mid-day trading on Monday, hitting $18.04. 846,537 shares of the stock traded hands. The firm’s 50-day moving average is $16.81 and its 200-day moving average is $15.74. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 22.33 and a beta of 1.01. Summit Hotel Properties has a 12-month low of $11.54 and a 12-month high of $18.08.
Summit Hotel Properties (NYSE:INN) last issued its earnings results on Thursday, February 23rd. The real estate investment trust reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.27. The company had revenue of $110.33 million for the quarter, compared to the consensus estimate of $110.08 million. Summit Hotel Properties had a return on equity of 19.64% and a net margin of 38.34%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. Equities research analysts expect that Summit Hotel Properties will post $0.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 16th will be issued a $0.17 dividend. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.77%. Summit Hotel Properties’s dividend payout ratio is currently 34.57%.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, May 9th. Royal Bank of Canada reiterated a “buy” rating and set a $18.00 price objective on shares of Summit Hotel Properties in a research note on Monday, May 8th. Cantor Fitzgerald lifted their price objective on shares of Summit Hotel Properties from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday. Canaccord Genuity restated a “buy” rating and set a $18.00 target price (down from $19.00) on shares of Summit Hotel Properties in a research report on Monday, May 15th. Finally, Deutsche Bank AG upped their price objective on shares of Summit Hotel Properties from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.93.
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Summit Hotel Properties Company Profile
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 75 hotels with over 10,444 guestrooms located in 22 states.
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