State of New Jersey Common Pension Fund D Sells 45,919 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

State of New Jersey Common Pension Fund D lowered its position in Summit Hotel Properties, Inc. (NYSE:INN) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 587,796 shares of the real estate investment trust’s stock after selling 45,919 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Summit Hotel Properties were worth $3,950,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INN. First PREMIER Bank bought a new stake in shares of Summit Hotel Properties in the 4th quarter worth approximately $42,000. Allspring Global Investments Holdings LLC lifted its position in shares of Summit Hotel Properties by 298.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,381 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 6,277 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in shares of Summit Hotel Properties in the 3rd quarter worth approximately $59,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Summit Hotel Properties in the 3rd quarter worth approximately $59,000. Finally, Caxton Associates LP bought a new stake in shares of Summit Hotel Properties in the 3rd quarter worth approximately $67,000. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Summit Hotel Properties stock opened at $6.13 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 0.80. Summit Hotel Properties, Inc. has a one year low of $5.31 and a one year high of $7.26. The business has a 50 day simple moving average of $6.41 and a 200 day simple moving average of $6.36.

Analysts Set New Price Targets

Separately, Wolfe Research assumed coverage on Summit Hotel Properties in a research report on Wednesday, January 10th. They set a “peer perform” rating for the company.

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.