Raymond James Maintains Outperform Rating for Summit Hotel Properties: Here's What You Need To Know

Raymond James has decided to maintain its Outperform rating of Summit Hotel Properties INN and lower its price target from $10.00 to $8.50.

Shares of Summit Hotel Properties are trading up 3.26% over the last 24 hours, at $6.82 per share.

A move to $8.50 would account for a 24.72% increase from the current share price.

About Summit Hotel Properties

Summit Hotel Properties Inc is a U.S.-based hotel investment company focusing on select-service hotels in the upscale and upper-midscale properties in the U.S. Substantially all of Summit's assets are held and operated by its Operating Partnership, Summit Hotel OP, LP, in which the company holds general and limited partnership interests. The firm has one segment in activities related to investing in real estate. Summit's revenue streams include Room and Other hotel operations revenue. Room comprises the majority of total revenues. The firm's hotels are located in various markets, such as corporate offices, retail centers, airports, state capitols, convention centers, and leisure attractions. Summit's hotels operate under brands, including Marriott, Hilton, Hyatt, and Holiday Inn.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.