Fox Run Management L.L.C. Boosts Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Fox Run Management L.L.C. grew its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 104.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,956 shares of the real estate investment trust’s stock after purchasing an additional 15,814 shares during the period. Fox Run Management L.L.C.’s holdings in Summit Hotel Properties were worth $212,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Wolverine Asset Management LLC grew its position in Summit Hotel Properties by 123.2% during the fourth quarter. Wolverine Asset Management LLC now owns 6,400 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 34,000 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Summit Hotel Properties by 3,505.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 7,464 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 7,257 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Summit Hotel Properties during the third quarter worth about $57,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Summit Hotel Properties by 193.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,147 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 8,006 shares during the last quarter. Finally, Ieq Capital LLC purchased a new stake in Summit Hotel Properties in the fourth quarter valued at approximately $87,000. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

INN stock opened at $5.39 on Friday. The firm has a 50 day simple moving average of $6.31 and a two-hundred day simple moving average of $6.51. The stock has a market cap of $591.94 million, a PE ratio of 539.20, a P/E/G ratio of 1.54 and a beta of 2.04. Summit Hotel Properties, Inc. has a one year low of $5.28 and a one year high of $7.22. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.78 and a quick ratio of 0.78.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 5.93%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 177.78%.

Summit Hotel Properties 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.