Victory Capital Management Inc. Increases Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Victory Capital Management Inc. raised its stake in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,577,615 shares of the real estate investment trust's stock after purchasing an additional 141,010 shares during the quarter. Victory Capital Management Inc. owned about 2.38% of Summit Hotel Properties worth $17,657,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC grew its stake in shares of Summit Hotel Properties by 123.2% in the fourth quarter. Wolverine Asset Management LLC now owns 6,400 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 34,000 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Summit Hotel Properties by 3,505.8% in the third quarter. Loomis Sayles & Co. L P now owns 7,464 shares of the real estate investment trust's stock valued at $51,000 after acquiring an additional 7,257 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Summit Hotel Properties in the third quarter valued at approximately $57,000. KBC Group NV raised its stake in shares of Summit Hotel Properties by 76.5% during the third quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 3,979 shares during the period. Finally, Metis Global Partners LLC acquired a new position in shares of Summit Hotel Properties during the third quarter worth $81,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

Summit Hotel Properties Price Performance

Shares of INN stock opened at $6.00 on Wednesday. Summit Hotel Properties, Inc. has a twelve month low of $5.66 and a twelve month high of $7.22. The company has a market capitalization of $658.14 million, a PE ratio of 599.50, a price-to-earnings-growth ratio of 1.54 and a beta of 2.04. 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 firm has a fifty day simple moving average of $6.61 and a 200-day simple moving average of $6.60.

Summit Hotel Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.34%. Summit Hotel Properties's dividend payout ratio is presently 177.78%.

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.

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