Summit Hotel Properties, Inc. (NYSE:INN) Short Interest Up 24.0% in February

Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,310,000 shares, an increase of 24.0% from the February 13th total of 2,670,000 shares. Approximately 3.1% of the company's shares are sold short. Based on an average daily trading volume, of 695,500 shares, the days-to-cover ratio is currently 4.8 days.

Summit Hotel Properties Trading Down 1.9 %

Shares of INN stock traded down $0.11 on Friday, reaching $5.57. 915,821 shares of the company's stock were exchanged, compared to its average volume of 684,392. The company's fifty day simple moving average is $6.45 and its 200 day simple moving average is $6.55. Summit Hotel Properties has a 52 week low of $5.42 and a 52 week 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 stock has a market capitalization of $610.94 million, a PE ratio of 554.50, a P/E/G ratio of 1.54 and a beta of 2.04.

Summit Hotel Properties Dividend Announcement

The business also recently declared 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 5.75%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties's payout ratio is presently 177.78%.

Institutional Investors Weigh In On Summit Hotel Properties

Several large investors have recently added to or reduced their stakes in INN. Wealth Enhancement Advisory Services LLC purchased a new position in Summit Hotel Properties during the 4th quarter worth $77,000. Squarepoint Ops LLC grew its position in shares of Summit Hotel Properties by 132.9% during the 4th quarter. Squarepoint Ops LLC now owns 38,727 shares of the real estate investment trust's stock worth $265,000 after buying an additional 22,101 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Summit Hotel Properties by 28.3% during the fourth quarter. Two Sigma Investments LP now owns 371,666 shares of the real estate investment trust's stock valued at $2,546,000 after buying an additional 81,917 shares during the period. Systematic Financial Management LP raised its holdings in shares of Summit Hotel Properties by 3.5% in the fourth quarter. Systematic Financial Management LP now owns 1,075,454 shares of the real estate investment trust's stock valued at $7,367,000 after acquiring an additional 36,770 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in Summit Hotel Properties during the 4th quarter worth about $232,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

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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.