Summit Hotel Properties, Inc. (NYSE:INN) Short Interest Update

Summit Hotel Properties, Inc. (NYSE:INN) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 3,890,000 shares, an increase of 11.8% from the December 15th total of 3,480,000 shares. Based on an average trading volume of 711,100 shares, the short-interest ratio is currently 5.5 days. Approximately 3.7% of the shares of the stock are sold short.

Summit Hotel Properties Price Performance

NYSE INN traded down $0.02 during midday trading on Monday, hitting $6.69. The company had a trading volume of 438,957 shares, compared to its average volume of 714,123. The company has a market capitalization of $724.90 million, a PE ratio of 668.60 and a beta of 2.03. The firm has a 50-day moving average price of $6.65 and a 200-day moving average price of $6.50. Summit Hotel Properties has a twelve month low of $5.66 and a twelve month high of $7.22. 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 (NYSE:INN) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.22). The firm had revenue of $176.81 million for the quarter, compared to analyst estimates of $176.24 million. Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, analysts anticipate that Summit Hotel Properties will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.08 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a yield of 4.79%. Summit Hotel Properties’s dividend payout ratio is currently 3,200.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P grew its position in Summit Hotel Properties by 3,505.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 7,464 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 7,257 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Summit Hotel Properties during the third quarter worth about $57,000. KBC Group NV increased its stake in shares of Summit Hotel Properties by 76.5% in the third quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 3,979 shares during the period. Metis Global Partners LLC bought a new position in Summit Hotel Properties in the 3rd quarter valued at approximately $81,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in Summit Hotel Properties by 193.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,147 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 8,006 shares during the period. 96.47% of the stock is currently owned by institutional investors and hedge funds.

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.