Globeflex Capital L P Acquires 98,174 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Globeflex Capital L P raised its holdings in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 10.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,017,858 shares of the real estate investment trust's stock after buying an additional 98,174 shares during the quarter. Globeflex Capital L P owned 0.94% of Summit Hotel Properties worth $6,972,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. H 2 Credit Manager LP raised its position in shares of Summit Hotel Properties by 43.0% during the third quarter. H 2 Credit Manager LP now owns 7,167,331 shares of the real estate investment trust's stock valued at $49,168,000 after buying an additional 2,156,700 shares during the last quarter. Jennison Associates LLC raised its holdings in Summit Hotel Properties by 21.6% in the 4th quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust's stock valued at $45,924,000 after acquiring an additional 1,191,506 shares in the last quarter. Indaba Capital Management L.P. bought a new stake in shares of Summit Hotel Properties in the 3rd quarter worth approximately $4,248,000. Geode Capital Management LLC lifted its position in shares of Summit Hotel Properties by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,788,634 shares of the real estate investment trust's stock worth $19,134,000 after acquiring an additional 56,027 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Summit Hotel Properties by 5.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,577,615 shares of the real estate investment trust's stock worth $17,657,000 after purchasing an additional 141,010 shares in the last quarter. 96.47% of the stock is owned by institutional investors.

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Summit Hotel Properties Stock Performance

Shares of NYSE INN traded up $0.13 during trading hours on Wednesday, reaching $5.74. The stock had a trading volume of 706,739 shares, compared to its average volume of 684,824. The company has a market cap of $629.60 million, a price-to-earnings ratio of 573.50, a PEG ratio of 1.54 and a beta of 2.04. Summit Hotel Properties, Inc. has a twelve month low of $5.50 and a twelve month high of $7.22. The business's fifty day moving average is $6.48 and its two-hundred day moving average is $6.56. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties's dividend payout ratio is 177.78%.

About Summit Hotel Properties

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.