Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 43.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 158,367 shares of the real estate investment trust's stock after buying an additional 47,877 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.15% of Summit Hotel Properties worth $1,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. H 2 Credit Manager LP grew its holdings in Summit Hotel Properties by 43.0% in the third quarter. H 2 Credit Manager LP now owns 7,167,331 shares of the real estate investment trust's stock valued at $49,168,000 after purchasing an additional 2,156,700 shares during the period. Jennison Associates LLC grew its holdings in 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 during the period. Indaba Capital Management L.P. purchased a new stake in Summit Hotel Properties in the third quarter valued at approximately $4,248,000. Geode Capital Management LLC grew its holdings in 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 during the period. Finally, Victory Capital Management Inc. grew its holdings in 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 during the period. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Summit Hotel Properties Trading Down 1.9 %

Summit Hotel Properties stock traded down $0.11 during trading on Friday, reaching $5.57. The company had a trading volume of 2,134,474 shares, compared to its average volume of 687,922. Summit Hotel Properties, Inc. has a 12-month low of $5.42 and a 12-month high of $7.22. The stock's 50 day moving average price is $6.43 and its two-hundred day moving average price is $6.54. The firm has a market capitalization of $610.94 million, a price-to-earnings ratio of 556.50, a PEG ratio of 1.54 and a beta of 2.04. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.78.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 5.75%. Summit Hotel Properties's payout ratio is 177.78%.

Summit Hotel Properties 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.