Profund Advisors LLC Has $261000 Stake in Summit Hotel Properties, Inc. (INN)

Ivan Schwartz
June 14, 2017

The fund owned 22,244 shares of the real estate investment trust's stock after selling 1,988 shares during the period. Martingale Asset Management L P increased its stake in Summit Hotel Properties by 106.4% in the fourth quarter. The institutional investor owned 90,249 shares of the real estate investment trust's stock after buying an additional 3,245 shares during the period. Daiwa Securities Group Inc. raised its stake in Summit Hotel Properties by 39.2% in the first quarter. State Street Corp now owns 2,429,189 shares of the real estate investment trust's stock valued at $38,935,000 after buying an additional 365,315 shares in the last quarter. The legal version of this story can be viewed at https://www.thestockobserver.com/2017/06/12/profund-advisors-llc-has-261000-position-in-summit-hotel-properties-inc-inn-updated.html. They now have a $18.00 price target on the real estate investment trust's stock, down from their prior price target of $19.00. Cipher Limited Partnership owns 0.18% invested in Summit Hotel Properties Inc (NYSE:INN) for 166,770 shares. Salem Investment Counselors Inc. now owns 118,110 shares of the real estate investment trust's stock worth $2,884,000 after buying an additional 105,634 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Summit Hotel Properties by 8.8% in the third quarter. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Finally, Putnam Investments LLC increased its position in Summit Hotel Properties by 6.7% in the fourth quarter. Mutual of America Capital Management LLC owned 0.08% of LaSalle Hotel Properties worth $2,613,000 at the end of the most recent quarter.

Analysts await LaSalle Hotel Properties (NYSE:LHO) to report earnings on July, 19. (INN) traded down 0.11% during mid-day trading on Monday, hitting $18.99. The company's Market capitalization reached to $1.98 billion, $93.81 million outstanding shares. The company's 50-day moving average price is $17.40 and its 200 day moving average price is $16.10. Parametric Portfolio Assoc Limited Liability Corporation reported 0.01% of its portfolio in Summit Hotel Properties Inc (NYSE:INN).

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Citadel Advsrs Ltd holds 0% in Summit Hotel Properties Inc (NYSE:INN) or 158,979 shares. This dividend represents a yeild of $3.58 which is the dividend as a percentage of the current share price. Synovus Financial Corp.'s dividend has Jun 15, 2017 as record date. Summit Hotel Properties's dividend payout ratio (DPR) is presently 85.00%.

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LHO has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Summit Hotel Properties from a sell rating to a hold rating in a research note on Tuesday, May 9th. Cantor Fitzgerald's price objective suggests a potential upside of 1.33% from the stock's previous close. Cantor Fitzgerald reduced their price objective on shares of Summit Hotel Properties to $19.00 and set a buy rating for the company in a research note on Monday, June 5th. The stock of Summit Hotel Properties Inc (NYSE:INN) has "Buy" rating given on Friday, March 3 by Bank of America. On July 21 the company was downgraded to "Underperform" from "Buy" with a current price target of $14.50 in a report issued by Bank of America.

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