Summit Hotel Properties, Inc. (NYSE:INN) Shares Acquired by Inceptionr LLC

Inceptionr LLC lifted its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 34.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,727 shares of the real estate investment trust’s stock after purchasing an additional 9,921 shares during the period. Inceptionr LLC’s holdings in Summit Hotel Properties were worth $265,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. grew 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 worth $17,657,000 after acquiring an additional 141,010 shares in the last quarter. Keybank National Association OH grew its stake in Summit Hotel Properties by 43.5% during the 4th quarter. Keybank National Association OH now owns 43,131 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 13,083 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Summit Hotel Properties by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,590,760 shares of the real estate investment trust’s stock worth $10,897,000 after purchasing an additional 24,925 shares during the period. Fisher Asset Management LLC raised its position in Summit Hotel Properties by 4.9% in the 4th quarter. Fisher Asset Management LLC now owns 519,495 shares of the real estate investment trust’s stock valued at $3,559,000 after purchasing an additional 24,178 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Summit Hotel Properties by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 895,048 shares of the real estate investment trust’s stock valued at $6,131,000 after buying an additional 98,548 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock opened at $6.63 on Monday. The business has a 50-day simple moving average of $6.62 and a 200-day simple moving average of $6.61. 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, Inc. has a one year low of $5.66 and a one year high of $7.22. The company has a market cap of $727.31 million, a PE ratio of 662.50, 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. Shareholders of record on Friday, February 14th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Friday, February 14th. 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.