Summit Hotel Properties Received its Third Buy in a Row

After KeyBanc and RBC Capital assigned a Buy rating to Summit Hotel Properties in the last month, the company received another Buy, this time from Robert W. Baird. Analyst Michael Bellisario reiterated a Buy rating on Summit Hotel Properties (NYSE: INN) yesterday and set a price target of $17. The company’s shares closed yesterday at $15.29.

According to TipRanks.com, Bellisario is a 3-star analyst with an average return of 4.7% and a 65.7% success rate. Bellisario covers the Financial sector, focusing on stocks such as Condor Hospitality Trust Inc, Ashford Hospitality Trust, and Ashford Hospitality Prime.

Currently, the analyst consensus on Summit Hotel Properties is Moderate Buy and the average price target is $17, representing an 11.2% upside.

In a report issued on October 27, KeyBanc also reiterated a Buy rating on the stock with a $17 price target.

Summit Hotel Properties’ market cap is currently $1.59B and has a P/E ratio of 18.77. The company has a book value ratio of 1.3237.

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Summit Hotel Properties, Inc. is a real estate investment trust. The company operates as a self-managed hotel investment company. It focuses on acquiring and owning premium-branded, select-service hotels in the upscale and upper-midscale segments of the U.S. lodging industry. The company was founded on June 30, 2010 and is headquartered in Austin, TX.

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