(NYSE:INN) Summit Hotel Properties Inc Dips To New 52 Week Low

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Summit Hotel Properties Inc (NYSE:INN)

December 6th, 2018
Summit Hotel Properties Inc went up $0.19 Thursday, a 1.74% increase, closing at $11.12. Despite ending the day higher, Summit Hotel Properties Inc hit a new 52 week low of $10.68, breaking the previous low of $10.69 from earlier this July. In addition to finishing higher, trading volumes were solid at 200% of normal which can indicate investors see opportunities. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 1.06.

INN was outperformed by the rest of the Real Estate sector which went up 2.66%.

Results from 7 analysts points to the possibility that Summit Hotel Properties Inc could rise significantly (26%), while Finbox has calculated (with medium uncertainty) a fair value price of $13.61.

Market Sectors

The market sectors were mixed Thursday with a majority of the sectors trending down. Real Estate saw the biggest increase of the day (2.66%), while Energy saw the biggest drop (1.77%). Healthcare has seen the biggest year-to-date gain at 12%. The biggest loss this year has been the Materials sector falling 12%.

Communication Services saw the biggest turnaround from its 5-day performance of -1.28%, as it went up 1.04%. Utilities saw a turn around from its 5-day performance of 2.33% trading down 0.10%.

Sector Breakdown

  • Real Estate went up with a 2.66% change.
  • Communication Services went up with a 1.04% change.
  • Consumer Discretionary went up with a 0.61% change.
  • Information Technology went up with a 0.23% change.
  • Utilities went down with a -0.10% change.
  • Consumer Staples went down with a -0.10% change.
  • Healthcare went down with a -0.31% change.
  • Industrials went down with a -0.55% change.
  • Materials went down with a -1.36% change.
  • Financials went down with a -1.44% change.
  • Energy went down with a -1.77% change.

Summit Hotel Properties Inc Info

Summit Hotel Properties, Inc. is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of August 1, 2018, the Company’s portfolio consisted of 77 hotels with a total of 11,657 guestrooms located in 26 states.

All amounts in USD unless otherwise indicated

(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Summit Hotel Properties Inc’s score is 1.06) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.

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