Barclays PLC Grows Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Barclays PLC boosted its holdings in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 40.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,193,305 shares of the real estate investment trust's stock after acquiring an additional 342,408 shares during the quarter. Barclays PLC owned 1.10% of Summit Hotel Properties worth $8,185,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INN. Loomis Sayles & Co. L P lifted its holdings in shares of Summit Hotel Properties by 3,505.8% during the third quarter. Loomis Sayles & Co. L P now owns 7,464 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 7,257 shares in the last quarter. KBC Group NV lifted its stake in 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 valued at $63,000 after acquiring an additional 3,979 shares during the period. MQS Management LLC purchased a new position in shares of Summit Hotel Properties during the second quarter valued at approximately $75,000. Metis Global Partners LLC bought a new position in Summit Hotel Properties during the third quarter valued at approximately $81,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in 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. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Performance

INN traded down $0.24 during mid-day trading on Wednesday, reaching $6.66. 1,839,414 shares of the company traded hands, compared to its average volume of 748,559. The company's fifty day moving average price is $6.49 and its 200-day moving average price is $6.37. The stock has a market capitalization of $722.06 million, a P/E ratio of 666.00 and a beta of 2.05. 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, Inc. has a 52-week low of $5.66 and a 52-week high of $7.22.

Summit Hotel Properties (NYSE:INN - Get Free Report) last announced its 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). Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. The firm had revenue of $176.81 million during the quarter, compared to analysts' expectations of $176.24 million. During the same period in the previous year, the business posted $0.22 earnings per share. On average, sell-side analysts expect that Summit Hotel Properties, Inc. will post 0.89 EPS for the current year.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 4.80%. Summit Hotel Properties's dividend payout ratio is currently 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.