Market Overview

UPDATE: BMO Capital Markets Initiates Summit Hotel Properties at Market Perform

Share:
Related INN
Benzinga's Top Downgrades
Cantor Fitzgerald: 4 Buy Rated Hotel REITs To Consider
Summit Hotel Properties purchases two Residence Inns for $56.8M (Seeking Alpha)

BMO Capital Markets initiated Summit Hotel Properties (NYSE: INN) with a Market Perform rating and a $10.00 price target.

BMO Capital Markets noted, "Summit's target markets have fewer barriers to entry from a hotel development standpoint, but limited lending has kept supply growth low and helped propel RevPAR growth for the company to near sector-level highs. However, we believe the in-line valuation recognizes these factors and thus, we are initiating with a Market Perform rating."

Summit Hotel Properties closed at $9.12 on Monday.

Latest Ratings for INN

DateFirmActionFromTo
Jul 2015Bank of AmericaDowngradesBuyUnderperform
Jul 2015BairdDowngradesOutperformNeutral
Jul 2015Canaccord GenuityInitiates Coverage onBuy

View More Analyst Ratings for INN
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (INN)

Get Benzinga's Newsletters