Shares of Summit Hotel Properties, Inc. (NYSE:INN - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $5.42 and last traded at $5.47, with a volume of 262095 shares trading hands. The stock had previously closed at $5.67.
Summit Hotel Properties Stock Down 0.2 %
The stock has a 50-day moving average price of $6.39 and a 200-day moving average price of $6.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $621.37 million, a P/E ratio of 566.00, a P/E/G ratio of 1.54 and a beta of 2.04.
Summit Hotel Properties Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties's dividend payout ratio (DPR) is presently 177.78%.
Hedge Funds Weigh In On Summit Hotel Properties
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Summit Hotel Properties in the 4th quarter worth about $77,000. Squarepoint Ops LLC grew its stake in Summit Hotel Properties by 132.9% during the fourth quarter. Squarepoint Ops LLC now owns 38,727 shares of the real estate investment trust's stock worth $265,000 after purchasing an additional 22,101 shares during the period. Two Sigma Investments LP grew its stake in 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 worth $2,546,000 after purchasing an additional 81,917 shares during the period. Systematic Financial Management LP increased its holdings in 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 worth $7,367,000 after purchasing an additional 36,770 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in Summit Hotel Properties in the fourth quarter valued at approximately $232,000. Institutional investors and hedge funds own 96.47% of the company's stock.
About Summit Hotel Properties
(
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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.
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