Bank of New York Mellon Corp Has $6.13 Million Position in Summit Hotel Properties, Inc. (NYSE:INN)

Bank of New York Mellon Corp raised its holdings in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 895,048 shares of the real estate investment trust's stock after acquiring an additional 98,548 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of Summit Hotel Properties worth $6,131,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of INN. Victory Capital Management Inc. boosted its position in shares of Summit Hotel Properties by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,436,605 shares of the real estate investment trust's stock worth $16,715,000 after purchasing an additional 21,389 shares during the last quarter. KBC Group NV grew its position in shares of Summit Hotel Properties by 76.5% during the 3rd quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust's stock worth $63,000 after buying an additional 3,979 shares during the period. Metis Global Partners LLC bought a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at about $81,000. Natixis Advisors LLC acquired a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at approximately $245,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at approximately $3,123,000. Institutional investors and hedge funds own 96.47% of the company's stock.

Summit Hotel Properties Trading Down 1.0 %

NYSE INN traded down $0.06 during trading on Thursday, reaching $5.67. 384,817 shares of the stock traded hands, compared to its average volume of 682,382. The stock's 50-day moving average price is $6.47 and its 200 day moving average price is $6.55. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. The firm has a market cap of $621.92 million, a price-to-earnings ratio of 568.50, a price-to-earnings-growth ratio of 1.54 and a beta of 2.04. Summit Hotel Properties, Inc. has a fifty-two week low of $5.50 and a fifty-two week high of $7.22.

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Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date was Friday, February 14th. Summit Hotel Properties's dividend payout ratio is currently 177.78%.

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.