Summit Hotel Properties, Inc. (NYSE:INN) Short Interest Down 23.9% in February

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) was the recipient of a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 2,670,000 shares, a decline of 23.9% from the January 31st total of 3,510,000 shares. Based on an average daily trading volume, of 678,900 shares, the short-interest ratio is currently 3.9 days. Approximately 2.5% of the shares of the stock are short sold.

Summit Hotel Properties Trading Up 2.7 %

Shares of NYSE:INN traded up $0.18 during trading on Friday, reaching $6.63. The company's stock had a trading volume of 810,992 shares, compared to its average volume of 634,477. The stock has a market capitalization of $727.31 million, a PE ratio of 662.50, a price-to-earnings-growth ratio of 1.54 and a beta of 2.02. Summit Hotel Properties has a 12 month low of $5.66 and a 12 month high of $7.22. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The firm's 50 day simple moving average is $6.62 and its two-hundred day simple moving average is $6.61.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Friday, February 14th. Summit Hotel Properties's dividend payout ratio (DPR) is 177.78%.

Hedge Funds Weigh In On Summit Hotel Properties

Several large investors have recently modified their holdings of the stock. H 2 Credit Manager LP lifted its position in Summit Hotel Properties by 24.3% in the fourth quarter. H 2 Credit Manager LP now owns 8,909,500 shares of the real estate investment trust's stock worth $61,030,000 after buying an additional 1,742,169 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Summit Hotel Properties by 21.6% in the 4th quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust's stock worth $45,924,000 after acquiring an additional 1,191,506 shares during the last quarter. Indaba Capital Management L.P. purchased a new position in shares of Summit Hotel Properties during the 3rd quarter worth about $4,248,000. Geode Capital Management LLC grew its holdings in Summit Hotel Properties by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,788,634 shares of the real estate investment trust's stock valued at $19,134,000 after purchasing an additional 56,027 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Summit Hotel Properties by 5.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,577,615 shares of the real estate investment trust's stock valued at $17,657,000 after purchasing an additional 141,010 shares during the last quarter. Institutional investors own 96.47% of the company's stock.

Remove Ads

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.