Summit Hotel Properties, Inc. (NYSE:INN) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 430.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 711,491 shares of the real estate investment trust's stock after acquiring an additional 577,300 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.66% of Summit Hotel Properties worth $4,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of INN. Price T Rowe Associates Inc. MD lifted its stake in Summit Hotel Properties by 8.3% during the first 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 in the last quarter. Panagora Asset Management Inc. acquired a new position in Summit Hotel Properties during the 2nd quarter worth about $604,000. Allegheny Financial Group LTD boosted its holdings in Summit Hotel Properties by 9.1% during the 2nd quarter. Allegheny Financial Group LTD now owns 251,718 shares of the real estate investment trust's stock valued at $1,508,000 after acquiring an additional 20,922 shares during the period. Victory Capital Management Inc. boosted its holdings in Summit Hotel Properties by 1.1% during the 2nd quarter. Victory Capital Management Inc. now owns 2,415,216 shares of the real estate investment trust's stock valued at $14,467,000 after acquiring an additional 26,342 shares during the period. Finally, Choreo LLC acquired a new position in Summit Hotel Properties in the 2nd quarter valued at about $86,000. Institutional investors and hedge funds own 96.47% of the company's stock.

Summit Hotel Properties Stock Down 1.7 %

Summit Hotel Properties stock traded down $0.12 during mid-day trading on Thursday, reaching $6.72. 354,166 shares of the company's stock were exchanged, compared to its average volume of 744,451. The company has a market cap of $728.03 million, a P/E ratio of 682.00 and a beta of 2.05. The company has a fifty day moving average of $6.49 and a 200-day moving average of $6.34. Summit Hotel Properties, Inc. has a twelve month low of $5.66 and a twelve month high of $7.22. 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 quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.22). Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. The firm had revenue of $176.81 million for the quarter, compared to analyst estimates of $176.24 million. During the same quarter last year, the firm earned $0.22 EPS. Sell-side analysts expect that Summit Hotel Properties, Inc. will post 0.89 EPS for the current year.

Summit Hotel Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 annualized dividend and a yield of 4.77%. Summit Hotel Properties's dividend payout ratio is currently 3,200.00%.

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.