Jennison Associates LLC increased its holdings in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 21.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,704,189 shares of the real estate investment trust's stock after buying an additional 1,191,506 shares during the quarter. Jennison Associates LLC owned about 6.18% of Summit Hotel Properties worth $45,924,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in shares of Summit Hotel Properties by 28.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,425 shares of the real estate investment trust's stock worth $209,000 after acquiring an additional 6,661 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Summit Hotel Properties during the third quarter valued at $3,123,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Summit Hotel Properties by 430.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,491 shares of the real estate investment trust's stock valued at $4,881,000 after purchasing an additional 577,300 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Summit Hotel Properties by 115.6% in the third quarter. Franklin Resources Inc. now owns 121,534 shares of the real estate investment trust's stock worth $803,000 after buying an additional 65,175 shares during the last quarter. Finally, KBC Group NV lifted its position 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 worth $63,000 after buying an additional 3,979 shares during the last quarter. 96.47% of the stock is owned by institutional investors.
Summit Hotel Properties Stock Performance
Shares of Summit Hotel Properties stock traded down $0.05 during trading on Friday, reaching $6.71. The company's stock had a trading volume of 641,204 shares, compared to its average volume of 498,423. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.78. The business's fifty day moving average price is $6.74 and its 200-day moving average price is $6.58. The firm has a market cap of $727.50 million, a price-to-earnings ratio of 671.00 and a beta of 2.02. Summit Hotel Properties, Inc. has a one year low of $5.66 and a one year high of $7.22.
Summit Hotel Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.08 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 4.77%. Summit Hotel Properties's dividend payout ratio is currently 3,200.00%.
Summit Hotel Properties Profile
(
Free Report)
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.
Recommended Stories

Before you consider Summit Hotel Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Summit Hotel Properties wasn't on the list.
While Summit Hotel Properties currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.