Jennison Associates LLC grew its position in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,512,683 shares of the real estate investment trust's stock after acquiring an additional 103,731 shares during the quarter. Jennison Associates LLC owned about 5.08% of Summit Hotel Properties worth $37,817,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Summit Hotel Properties by 3.0% in the first quarter. Vanguard Group Inc. now owns 15,130,679 shares of the real estate investment trust's stock valued at $98,501,000 after buying an additional 439,383 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Summit Hotel Properties by 1.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust's stock worth $1,537,000 after purchasing an additional 3,540 shares during the period. EntryPoint Capital LLC purchased a new position in shares of Summit Hotel Properties in the 1st quarter valued at about $79,000. Price T Rowe Associates Inc. MD raised its holdings 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 during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its position 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 buying an additional 10,312 shares in the last quarter. 96.47% of the stock is owned by hedge funds and other institutional investors.
Summit Hotel Properties Price Performance
NYSE:INN traded up $0.15 during trading hours on Friday, reaching $6.38. 182,724 shares of the company traded hands, compared to its average volume of 744,526. The stock has a market cap of $691.72 million, a P/E ratio of 622.50 and a beta of 2.05. The firm's 50-day moving average is $6.53 and its 200-day moving average is $6.28. Summit Hotel Properties, Inc. has a 1-year low of $5.66 and a 1-year high of $7.22. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.78 and a quick ratio of 0.78.
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 net margin of 3.41% and a return on equity of 1.87%. The business had revenue of $176.81 million during the quarter, compared to analysts' expectations of $176.24 million. During the same quarter last year, the firm earned $0.22 EPS. Equities research analysts expect that Summit Hotel Properties, Inc. will post 0.87 earnings per share for the current fiscal year.
Summit Hotel Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, November 15th. Summit Hotel Properties's dividend payout ratio is presently 3,200.00%.
Summit Hotel Properties Company Profile
(
Free Report)
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.
Read More
Before you consider Summit Hotel Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Summit Hotel Properties wasn't on the list.
While Summit Hotel Properties currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
