Summit Hotel Properties, Inc. (NYSE:INN) Holdings Raised by Algert Global LLC

Algert Global LLC boosted its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 86.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 250,355 shares of the real estate investment trust’s stock after acquiring an additional 116,260 shares during the quarter. Algert Global LLC’s holdings in Summit Hotel Properties were worth $1,717,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of INN. KBC Group NV boosted its holdings in shares of Summit Hotel Properties by 76.5% in the third quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 3,979 shares in the last quarter. MQS Management LLC bought a new position in Summit Hotel Properties during the 2nd quarter valued at $75,000. Metis Global Partners LLC acquired a new position in shares of Summit Hotel Properties during the 3rd quarter valued at $81,000. Choreo LLC bought a new stake in shares of Summit Hotel Properties in the 2nd quarter worth $86,000. Finally, Caxton Associates LP raised its stake in shares of Summit Hotel Properties by 75.7% in the 2nd quarter. Caxton Associates LP now owns 20,440 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 8,804 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Trading Down 0.3 %

Shares of INN stock opened at $6.52 on Thursday. The stock has a 50-day simple moving average of $6.53 and a 200 day simple moving average of $6.29. The stock has a market capitalization of $706.90 million, a P/E ratio of 654.50 and a beta of 2.05. Summit Hotel Properties, Inc. has a fifty-two week low of $5.66 and a fifty-two week high of $7.22. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.22). Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. The business had revenue of $176.81 million for the quarter, compared to the consensus estimate of $176.24 million. During the same quarter last year, the business posted $0.22 EPS. On average, sell-side analysts expect that Summit Hotel Properties, Inc. will post 0.87 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 4.91%. Summit Hotel Properties’s dividend payout ratio (DPR) 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.