Dimensional Fund Advisors LP Has $9.66 Million Stock Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Dimensional Fund Advisors LP raised its holdings in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,611,956 shares of the real estate investment trust's stock after buying an additional 80,577 shares during the quarter. Dimensional Fund Advisors LP owned 1.49% of Summit Hotel Properties worth $9,655,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in shares of Summit Hotel Properties during the 1st quarter worth approximately $30,000. EntryPoint Capital LLC bought a new position in shares of Summit Hotel Properties during the first quarter valued at $79,000. Choreo LLC acquired a new stake in shares of Summit Hotel Properties in the 2nd quarter valued at $86,000. Quadrature Capital Ltd bought a new stake in shares of Summit Hotel Properties in the 4th quarter worth about $93,000. Finally, Mount Yale Investment Advisors LLC grew its holdings in shares of Summit Hotel Properties by 101.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 20,513 shares of the real estate investment trust's stock worth $134,000 after purchasing an additional 10,312 shares during the last quarter. Institutional investors and hedge funds own 96.47% of the company's stock.

Summit Hotel Properties Price Performance

INN stock traded down $0.14 during trading on Tuesday, hitting $6.71. 923,585 shares of the stock traded hands, compared to its average volume of 764,928. The stock has a market cap of $725.97 million, a price-to-earnings ratio of -28.54 and a beta of 2.04. Summit Hotel Properties, Inc. has a one year low of $5.31 and a one year high of $7.22. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.99. The company has a 50 day simple moving average of $6.60 and a 200 day simple moving average of $6.27.

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 EPS 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 during the quarter, compared to analyst estimates of $191.05 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Equities analysts expect that Summit Hotel Properties, Inc. will post 0.89 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.08 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.77%. 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.