UPDATE: Cantor Fitzgerald Initiates Summitt Hotel Properties at Buy on Yield and Upside Potential
Cantor Fitzgerald initiated Summitt Hotel Properties (NYSE: INN) 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.
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