Nisa Investment Advisors LLC Cuts Position in Summit Hotel Properties, Inc. (NYSE:INN)


Nisa Investment Advisors LLC lessened its position in shares of Summit Hotel Properties, Inc. (NYSE:INN – Get Rating) by 4.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 87,398 shares of the real estate investment trust’s stock after selling 4,252 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Summit Hotel Properties were worth $870,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in shares of Summit Hotel Properties in the 4th quarter worth approximately $47,000. Van ECK Associates Corp boosted its holdings in shares of Summit Hotel Properties by 66.9% in the 4th quarter. Van ECK Associates Corp now owns 8,074 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 3,237 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Summit Hotel Properties by 33.6% in the 4th quarter. Schroder Investment Management Group now owns 8,934 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 2,248 shares during the period. Journey Strategic Wealth LLC purchased a new position in shares of Summit Hotel Properties in the 4th quarter worth approximately $106,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Summit Hotel Properties in the 1st quarter worth approximately $140,000. Hedge funds and other institutional investors own 99.19% of the company’s stock.

Summit Hotel Properties Trading Down 2.7 %

Shares of NYSE INN opened at $7.43 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $7.91 and a two-hundred day simple moving average of $9.09. The firm has a market cap of $793.67 million, a PE ratio of -12.81 and a beta of 2.03. Summit Hotel Properties, Inc. has a twelve month low of $6.70 and a twelve month high of $10.94.

Summit Hotel Properties (NYSE:INN – Get Rating) last issued its earnings results on Tuesday, May 3rd. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.28). Summit Hotel Properties had a negative net margin of 9.56% and a negative return on equity of 3.59%. During the same period in the previous year, the business earned ($0.07) EPS. Analysts expect that Summit Hotel Properties, Inc. will post 0.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, TheStreet lowered Summit Hotel Properties from a “c-” rating to a “d+” rating in a research note on Wednesday, July 13th. Two equity research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.30.

About Summit Hotel Properties

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Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of November 3, 2020, the Company’s portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guest rooms located in 23 states.

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



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