Headlines about Summit Hotel Properties (NYSE:INN) have trended somewhat positive this week, Alpha One Sentiment Analysis reports. The research group, a unit of Accern, ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources in real-time. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Summit Hotel Properties earned a media sentiment score of 0.18 on Alpha One’s scale. Alpha One also gave media headlines about the real estate investment trust an impact score of 90 out of 100, indicating that recent news coverage is very likely to have an impact on the company’s share price in the next few days.
These are some of the news stories that may have effected Alpha One Sentiment’s analysis:
- Summit Hotels Lands $53M Courtyard by Marriott in Charlotte (cpexecutive.com)
- $130.52 Million in Sales Expected for Summit Hotel Properties, Inc. (INN) This Quarter (americanbankingnews.com)
- Shares now up at $18.95 (INN) Summit Hotel Properties Completes… (campdesrecrues.com)
- Summit Hotel Properties acquires Courtyard by Marriott Charlotte City Center (pehub.com)
- Summit Hotel Properties Completes $56.3 Million Acquisition Of Courtyard By Marriott Charlotte City Center (hotelnewsresource.com)
Shares of Summit Hotel Properties (NYSE:INN) traded down 0.42% during mid-day trading on Tuesday, reaching $18.92. The company’s stock had a trading volume of 364,635 shares. Summit Hotel Properties has a one year low of $11.90 and a one year high of $19.15. The stock has a 50 day moving average of $17.68 and a 200-day moving average of $16.27. The stock has a market cap of $1.78 billion, a P/E ratio of 23.42 and a beta of 1.18.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 16th were issued a $0.17 dividend. The ex-dividend date was Friday, May 12th. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.58%. Summit Hotel Properties’s dividend payout ratio (DPR) is 85.00%.
A number of brokerages have commented on INN. Zacks Investment Research cut Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Monday, February 20th. Cantor Fitzgerald reissued a “buy” rating on shares of Summit Hotel Properties in a report on Thursday, February 23rd. Bank of America Corporation raised Summit Hotel Properties from an “underperform” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Friday, March 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $18.00 target price on shares of Summit Hotel Properties in a report on Monday, May 8th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $18.00 price objective (down previously from $19.00) on shares of Summit Hotel Properties in a research report on Monday, May 15th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.94.
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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 76 hotels with over 10,705 guestrooms located in 22 states.
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