Fourth Quarter 2022 Earnings Estimate for Summit Hotel Properties, Inc. (NYSE:INN) Released by KeyCorp

Summit Hotel Properties, Inc. (NYSE:INN) – KeyCorp analysts raised their fourth quarter 2022 EPS estimates for Summit Hotel Properties in a note to investors on Wednesday, February 9. KeyCorp analyst A. Wurschmidt now expects the real estate investment trust to earn $0.27 per share for the quarter, up from its previous estimate of $0.26. KeyCorp currently has an “overweight” rating and a price target of $12.00 on the stock.

Other stock analysts have also recently published research reports on the company. Zacks Investment Research downgraded Summit Hotel Properties from a “strong buy” rating to a “hold” rating in a research report on Wednesday. TheStreet downgraded Summit Hotel Properties from a “c-” rating to a “d+” rating in a research report on Monday, December 20. Two investment analysts have assigned the stock a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat data, Summit Hotel Properties has an average rating of “Hold” and an average target price of $11.08.

Shares of HOSTEL opened at $9.92 on Friday. The stock has a fifty-day moving average price of $9.59 and a two-hundred-day moving average price of $9.48. The company has a debt ratio of 0.96, a quick ratio of 1.33 and a current ratio of 1.33. Summit Hotel Properties has a 52-week low of $8.22 and a 52-week high of $11.32. The company has a market capitalization of $1.06 billion, a price-earnings ratio of -9.02 and a beta of 2.22.

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Several institutional investors have recently changed their positions in INN. First Trust Advisors LP increased its stake in shares of Summit Hotel Properties by 33.4% during the first quarter. First Trust Advisors LP now owns 237,865 shares of the real estate investment trust worth $2,714,000 after purchasing an additional 59,587 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in shares of Summit Hotel Properties by 6.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 52,701 shares of the real estate investment trust worth $601,000 after purchasing an additional 3,198 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Summit Hotel Properties in the second quarter worth approximately $1,075,000. Geode Capital Management LLC increased its stake in Summit Hotel Properties by 3.0% in the second quarter. Geode Capital Management LLC now owns 2,131,964 shares of the real estate investment trust valued at $19,891,000 after acquiring an additional 61,272 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in Summit Hotel Properties by 16.7% in the second quarter. Nuveen Asset Management LLC now owns 3,834,613 shares of the real estate investment trust valued at $35,776,000 after acquiring an additional 547,859 shares during the period. 98.26% of the shares are held by institutional investors and hedge funds.

Company Profile Summit Hotel Properties

Summit Hotel Properties, Inc. is a real estate investment trust, which operates as a self-managed hotel investment company. It is focused on owning premium branded select service hotels. Its hotels are located in offices and corporate headquarters, shopping malls, airports, state capitols, convention centers, universities and leisure attractions.

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Earnings history and estimates for Summit Hotel Properties (NYSE:INN)

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