UPDATE: Cantor Fitzgerald Initiates Summitt Hotel Properties at Buy on Yield and Upside Potential

Cantor Fitzgerald initiated Summitt Hotel Properties

with a Buy rating and a $10.50 price target. Cantor Fitzgerald said, "We are initiating coverage of Summit Hotel Properties with a BUY rating and a $10.50 target price. Summit is the only public hotel REIT exclusively focused on select service hotels. In our view, Summit is an attractive small-cap lodging REIT that operates mostly under the radar screens of investors in lodging equities. We believe Summit offers a compelling combination of upside potential in its share price and a healthy dividend yield." Summitt Hotel Properties closed at $9.39 on Wednesday.