Segall Bryant & Hamill LLC Makes New Investment in Summit Hotel Properties, Inc. (NYSE:INN)

Segall Bryant & Hamill LLC purchased a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 455,175 shares of the real estate investment trust's stock, valued at approximately $3,123,000. Segall Bryant & Hamill LLC owned 0.42% of Summit Hotel Properties at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Asset Management One Co. Ltd. boosted its position in shares of Summit Hotel Properties by 1.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 162,720 shares of the real estate investment trust's stock worth $1,116,000 after purchasing an additional 1,888 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Summit Hotel Properties by 12.3% during the third quarter. Van ECK Associates Corp now owns 18,037 shares of the real estate investment trust's stock worth $124,000 after buying an additional 1,980 shares in the last quarter. abrdn plc grew its position in Summit Hotel Properties by 10.5% during the third quarter. abrdn plc now owns 21,553 shares of the real estate investment trust's stock worth $148,000 after buying an additional 2,056 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Summit Hotel Properties by 1.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust's stock valued at $1,537,000 after buying an additional 3,540 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Summit Hotel Properties by 76.5% during the 3rd quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 3,979 shares during the period. 96.47% of the stock is owned by institutional investors and hedge funds.

Summit Hotel Properties Price Performance

Shares of INN traded up $0.14 on Friday, reaching $6.37. The stock had a trading volume of 839,991 shares, compared to its average volume of 637,026. Summit Hotel Properties, Inc. has a twelve month low of $5.66 and a twelve month high of $7.22. The firm has a market capitalization of $690.64 million, a PE ratio of 637.00 and a beta of 2.05. The firm has a 50-day moving average of $6.53 and a 200 day moving average of $6.28. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01.

Summit Hotel Properties (NYSE:INN - Get Free Report) last posted its earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.22). Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. The firm had revenue of $176.81 million during the quarter, compared to analyst estimates of $176.24 million. During the same period last year, the company posted $0.22 EPS. Sell-side analysts expect that Summit Hotel Properties, Inc. will post 0.87 EPS for the current year.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date of this dividend is Friday, November 15th. Summit Hotel Properties's payout ratio is currently 3,200.00%.

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.