Summit Hotel Properties Inc. (NYSE:INN) marked $7.50 per share on Wednesday, down from a previous closing price of $7.74. While Summit Hotel Properties Inc. has underperformed by -3.10%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, INN fell by -21.63%, with highs and lows ranging from $10.94 to $6.70, whereas the simple moving average fell by -16.05% in the last 200 days.
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On September 15, 2022, CapitalOne Downgraded Summit Hotel Properties Inc. (NYSE: INN) to Equal Weight. A report published by KeyBanc Capital Markets on July 14, 2022, Downgraded its rating to ‘Sector Weight’ for INN. BofA Securities also Downgraded INN shares as ‘Underperform’, setting a target price of $11 on the company’s shares in a report dated September 27, 2021. BofA/Merrill June 01, 2020d the rating to Buy on June 01, 2020, and set its price target from $4 to $7. CapitalOne January 13, 2020d its ‘Equal Weight’ rating to ‘Overweight’ for INN, as published in its report on January 13, 2020. CapitalOne’s report from June 25, 2019 suggests a price prediction of $13 for INN shares, giving the stock a ‘Equal Weight’ rating. BofA/Merrill also rated the stock as ‘Underperform’.
Analysis of Summit Hotel Properties Inc. (INN)
INN currently pays a dividend of $0.16 per share, which means investors will get a return regardless of the company’s performance over the next few months. Further, the quarter-over-quarter increase in sales is 111.80%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Summit Hotel Properties Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -3.20% is sufficient for you to turn a profit off your investment.
An average volume of 658.03K can be a very valuable indicator of volatility for INN stock. On a monthly basis, the volatility of the stock is set at 3.49%, whereas on a weekly basis, it is put at 4.79%, with a loss of -7.52% over the past seven days. Furthermore, long-term investors anticipate a median target price of $11.00, showing growth from the present price of $7.50, which can serve as yet another indication of whether INN is worth investing in or should be passed over.
How Do You Analyze Summit Hotel Properties Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 98.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in INN shares?
The recent increase in stakes in INN appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in INN has increased by 1.47% in the first quarter. The company now owns 17,359,504 shares of the stock, with a value of $136.45 million, following the purchase of 251,560 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in INN during the first quarter, downing its stake by -2.04%. During the last quarter, the company picked up -316,460 additional shares for a total stake of worth $119.39 million, bringing number of shares owned by the company to 15,190,016.
During the first quarter, SSgA Funds Management, Inc. added a 42,653 position in INN. Jennison Associates LLC purchased an additional 0.48 million shares in the last quarter, increasing its holdings by 8.81%, now holding 5.92 million shares worth $46.5 million. At the end of the first quarter, Macquarie Investment Management B increased its INN holdings by 0.43% and now holds 4.64 million INN shares valued at $36.5 million with the added 19780.0 shares during the period. INN shares are owned by institutional investors to the tune of 98.60% at present.