Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $5.56 and last traded at $5.59, with a volume of 448869 shares trading hands. The stock had previously closed at $5.79.
Summit Hotel Properties Stock Up 2.2 %
The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $634.98 million, a P/E ratio of 578.40, a PEG ratio of 1.54 and a beta of 2.04. The firm has a 50-day moving average price of $6.52 and a two-hundred day moving average price of $6.57.
Summit Hotel Properties Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.53%. Summit Hotel Properties's dividend payout ratio is 177.78%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. H 2 Credit Manager LP raised its stake in shares of 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 valued at $61,030,000 after purchasing an additional 1,742,169 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Summit Hotel Properties by 21.6% in the fourth quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust's stock valued at $45,924,000 after purchasing an additional 1,191,506 shares in the last quarter. Indaba Capital Management L.P. acquired a new position in shares of Summit Hotel Properties in the third quarter valued at $4,248,000. Geode Capital Management LLC raised its stake in shares of Summit Hotel Properties by 2.1% in the third 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 in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Summit Hotel Properties by 5.8% in the fourth 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 in the last quarter. 96.47% of the stock is currently owned by institutional investors and hedge funds.
About Summit Hotel Properties
(
Get 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
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
