Barclays PLC Acquires 342,408 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Barclays PLC increased its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 40.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,193,305 shares of the real estate investment trust’s stock after buying an additional 342,408 shares during the quarter. Barclays PLC’s holdings in Summit Hotel Properties were worth $8,185,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its stake in shares of Summit Hotel Properties by 1.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 162,720 shares of the real estate investment trust’s stock worth $1,116,000 after acquiring an additional 1,888 shares during the last quarter. Van ECK Associates Corp raised its holdings in Summit Hotel Properties by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 18,037 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,980 shares during the period. abrdn plc lifted its position in Summit Hotel Properties by 10.5% during the third quarter. abrdn plc now owns 21,553 shares of the real estate investment trust’s stock valued at $148,000 after purchasing an additional 2,056 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Summit Hotel Properties by 6.3% during the third quarter. Daiwa Securities Group Inc. now owns 35,785 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 2,125 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Summit Hotel Properties by 12.2% in the third quarter. Point72 Asset Management L.P. now owns 32,157 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 3,502 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Up 0.7 %

NYSE INN opened at $6.90 on Wednesday. Summit Hotel Properties, Inc. has a 52 week low of $5.66 and a 52 week high of $7.22. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $747.54 million, a P/E ratio of 690.00 and a beta of 2.05. The stock’s 50-day moving average price is $6.48 and its 200-day moving average price is $6.36.

Summit Hotel Properties (NYSE:INN) last released its earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.22). Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. The firm had revenue of $176.81 million for the quarter, compared to the consensus estimate of $176.24 million. During the same quarter in the previous year, the business posted $0.22 EPS. On average, equities research analysts predict that Summit Hotel Properties, Inc. will post 0.89 earnings per share for the current year.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend was Friday, November 15th. Summit Hotel Properties’s dividend payout ratio is currently 3,200.00%.

About Summit Hotel Properties

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.