Lighthouse Investment Partners LLC Invests $2.85 Million in Summit Hotel Properties, Inc. (NYSE:INN)

Lighthouse Investment Partners LLC purchased a new stake in shares of Summit Hotel Properties, Inc. (NYSE:INN - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 475,000 shares of the real estate investment trust's stock, valued at approximately $2,845,000. Lighthouse Investment Partners LLC owned about 0.44% of Summit Hotel Properties at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in shares of Summit Hotel Properties during the 1st quarter worth approximately $30,000. MQS Management LLC acquired a new stake in shares of Summit Hotel Properties in the second quarter valued at $75,000. EntryPoint Capital LLC purchased a new stake in shares of Summit Hotel Properties in the 1st quarter valued at $79,000. Choreo LLC acquired a new position in Summit Hotel Properties during the 2nd quarter worth about $86,000. Finally, Quadrature Capital Ltd purchased a new position in Summit Hotel Properties during the 4th quarter valued at about $93,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

Summit Hotel Properties Trading Down 0.9 %

NYSE:INN traded down $0.06 on Friday, reaching $6.87. 635,599 shares of the company's stock were exchanged, compared to its average volume of 748,628. The firm has a market capitalization of $743.28 million, a price-to-earnings ratio of -28.63 and a beta of 2.04. Summit Hotel Properties, Inc. has a 52-week low of $5.31 and a 52-week high of $7.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average of $6.50 and a 200-day moving average of $6.24.

Summit Hotel Properties (NYSE:INN - Get Free Report) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Summit Hotel Properties had a return on equity of 1.76% and a net margin of 3.23%. The business had revenue of $193.90 million for the quarter, compared to analysts' expectations of $191.05 million. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, analysts expect that Summit Hotel Properties, Inc. will post 0.89 earnings per share for the current year.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.08 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.32 dividend on an annualized basis and a yield of 4.66%. Summit Hotel Properties's dividend payout ratio (DPR) is presently -133.33%.

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.