Advantus Capital Management Inc Acquires New Holdings in Summit Hotel Properties, Inc. (INN)

Advantus Capital Management Inc acquired a new stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,900 shares of the real estate investment trust’s stock, valued at approximately $766,000. Advantus Capital Management Inc owned 45,934.02% of Summit Hotel Properties at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Summit Hotel Properties by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,374,090 shares of the real estate investment trust’s stock valued at $25,627,000 after purchasing an additional 127,226 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Summit Hotel Properties by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 538,127 shares of the real estate investment trust’s stock worth $8,599,000 after acquiring an additional 25,273 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Summit Hotel Properties by 17.0% in the second quarter. New York State Common Retirement Fund now owns 109,400 shares of the real estate investment trust’s stock worth $2,040,000 after acquiring an additional 15,899 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Summit Hotel Properties by 2.4% in the second quarter. Macquarie Group Ltd. now owns 2,944,594 shares of the real estate investment trust’s stock worth $54,917,000 after acquiring an additional 69,729 shares during the period. Finally, IndexIQ Advisors LLC boosted its holdings in shares of Summit Hotel Properties by 54.4% in the second quarter. IndexIQ Advisors LLC now owns 153,946 shares of the real estate investment trust’s stock worth $2,871,000 after acquiring an additional 54,243 shares during the period. 95.83% of the stock is owned by institutional investors and hedge funds.

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Summit Hotel Properties, Inc. (INN) opened at $15.29 on Friday. The company has a market capitalization of $1,594.40, a PE ratio of 11.50 and a beta of 1.20. 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, Inc. has a twelve month low of $13.25 and a twelve month high of $19.39.

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 the Thomson Reuters’ consensus estimate of $0.17. The firm had revenue of $136.60 million for the quarter, compared to the consensus estimate of $135.69 million. Summit Hotel Properties had a return on equity of 8.96% and a net margin of 20.21%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. research analysts expect that Summit Hotel Properties, Inc. will post 1.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $0.68 annualized dividend and a dividend yield of 4.45%. Summit Hotel Properties’s dividend payout ratio is currently 82.93%.

A number of equities analysts have recently commented on INN shares. BidaskClub lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded Summit Hotel Properties from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $20.00 price objective on shares of Summit Hotel Properties in a research report on Friday, August 4th. Canaccord Genuity lowered their price objective on Summit Hotel Properties from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $17.00 price objective (down previously from $19.00) on shares of Summit Hotel Properties in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $17.72.

Summit Hotel Properties 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 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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