Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 15,493 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 37.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 57,085 shares of the real estate investment trust’s stock after acquiring an additional 15,493 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Summit Hotel Properties were worth $391,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Indaba Capital Management L.P. purchased a new stake in shares of Summit Hotel Properties in the third quarter valued at about $4,248,000. H 2 Credit Manager LP lifted its position in shares of Summit Hotel Properties by 43.0% during the 3rd quarter. H 2 Credit Manager LP now owns 7,167,331 shares of the real estate investment trust’s stock worth $49,168,000 after buying an additional 2,156,700 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Summit Hotel Properties by 21.6% in the 4th quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust’s stock worth $45,924,000 after buying an additional 1,191,506 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Summit Hotel Properties by 430.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,491 shares of the real estate investment trust’s stock worth $4,881,000 after buying an additional 577,300 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Summit Hotel Properties by 40.2% in the third quarter. Barclays PLC now owns 1,193,305 shares of the real estate investment trust’s stock valued at $8,185,000 after acquiring an additional 342,408 shares in the last quarter. 96.47% of the stock is owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock opened at $5.45 on Friday. The business’s fifty day simple moving average is $6.34 and its 200 day simple moving average is $6.51. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. Summit Hotel Properties, Inc. has a 12 month low of $5.42 and a 12 month high of $7.22. The firm has a market capitalization of $597.98 million, a P/E ratio of 544.70, a price-to-earnings-growth ratio of 1.54 and a beta of 2.04.

Summit Hotel Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 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.