AQR Capital Management LLC Increases Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

AQR Capital Management LLC boosted its position in shares of Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 233.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,639 shares of the real estate investment trust's stock after purchasing an additional 207,586 shares during the period. AQR Capital Management LLC owned approximately 0.27% of Summit Hotel Properties worth $1,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its position in shares of Summit Hotel Properties by 8.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 34,996 shares of the real estate investment trust's stock valued at $228,000 after buying an additional 2,874 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Summit Hotel Properties by 1.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust's stock valued at $1,537,000 after purchasing an additional 3,540 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Summit Hotel Properties during the 1st quarter worth $30,000. Price T Rowe Associates Inc. MD increased its position in shares of Summit Hotel Properties by 8.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,781 shares of the real estate investment trust's stock worth $429,000 after purchasing an additional 5,036 shares during the last quarter. Finally, Caxton Associates LP raised its holdings in Summit Hotel Properties by 75.7% in the 2nd quarter. Caxton Associates LP now owns 20,440 shares of the real estate investment trust's stock valued at $122,000 after buying an additional 8,804 shares during the period. 96.47% of the stock is currently owned by institutional investors and hedge funds.

Summit Hotel Properties Trading Up 0.3 %

INN stock traded up $0.02 during mid-day trading on Thursday, hitting $6.62. 541,518 shares of the company were exchanged, compared to its average volume of 762,772. Summit Hotel Properties, Inc. has a 12-month low of $5.31 and a 12-month high of $7.22. The firm has a market capitalization of $716.23 million, a P/E ratio of -27.50 and a beta of 2.04. The business has a fifty day simple moving average of $6.62 and a 200-day simple moving average of $6.28. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.99.

Summit Hotel Properties (NYSE:INN - Get Free Report) last posted 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 net margin of 3.23% and a return on equity of 1.76%. The company had revenue of $193.90 million during the quarter, compared to analyst estimates of $191.05 million. During the same quarter last year, the business posted $0.27 EPS. On average, equities research analysts predict that Summit Hotel Properties, Inc. will post 0.89 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 16th. This represents a $0.32 annualized dividend and a dividend yield of 4.83%. Summit Hotel Properties's dividend payout ratio is presently -133.33%.

Summit Hotel Properties 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.