Metis Global Partners LLC Takes Position in Summit Hotel Properties, Inc. (NYSE:INN)

Metis Global Partners LLC purchased a new position in Summit Hotel Properties, Inc. (NYSE:INN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,737 shares of the real estate investment trust’s stock, valued at approximately $81,000.

Other large investors also recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its position in Summit Hotel Properties by 1.2% in the third quarter. Asset Management One Co. Ltd. now owns 162,720 shares of the real estate investment trust’s stock worth $1,116,000 after purchasing an additional 1,888 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Summit Hotel Properties by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 18,037 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,980 shares during the period. abrdn plc boosted its holdings in shares of Summit Hotel Properties by 10.5% in the third quarter. abrdn plc now owns 21,553 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 2,056 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Summit Hotel Properties by 1.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust’s stock valued at $1,537,000 after buying an additional 3,540 shares during the period. Finally, KBC Group NV increased its holdings in Summit Hotel Properties by 76.5% during the third quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 3,979 shares during the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Up 0.2 %

INN opened at $6.10 on Wednesday. Summit Hotel Properties, Inc. has a 1-year low of $5.66 and a 1-year high of $7.22. The firm’s 50 day simple moving average is $6.54 and its two-hundred day simple moving average is $6.28. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $661.36 million, a PE ratio of 610.00 and a beta of 2.05.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.22). The company had revenue of $176.81 million for the quarter, compared to the consensus estimate of $176.24 million. Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. During the same period in the prior year, the firm posted $0.22 EPS. As a group, equities analysts forecast that Summit Hotel Properties, Inc. will post 0.87 EPS for the current year.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.25%. The ex-dividend date is Friday, November 15th. Summit Hotel Properties’s dividend payout ratio is 3,200.00%.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded lodging properties with efficient operating models primarily in the upscale segment of the lodging industry. As of November 1, 2023, the Company’s portfolio consisted of 101 assets, 57 of which are wholly owned, with a total of 15,035 guestrooms located in 24 states.