Fisher Asset Management LLC lessened its holdings in Summit Hotel Properties, Inc. (NYSE:INN – Free Report) by 15.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 534,127 shares of the real estate investment trust’s stock after selling 95,534 shares during the quarter. Fisher Asset Management LLC’s holdings in Summit Hotel Properties were worth $3,589,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of INN. Quadrant Capital Group LLC boosted its stake in shares of Summit Hotel Properties by 103.1% during the fourth quarter. Quadrant Capital Group LLC now owns 4,835 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 2,454 shares during the period. First PREMIER Bank purchased a new stake in Summit Hotel Properties in the 4th quarter valued at about $42,000. Tower Research Capital LLC TRC grew its stake in Summit Hotel Properties by 56.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,561 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 2,728 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of Summit Hotel Properties during the third quarter worth approximately $59,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of Summit Hotel Properties during the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 96.47% of the company’s stock.
Summit Hotel Properties Stock Up 2.2 %
Shares of NYSE INN opened at $5.92 on Friday. Summit Hotel Properties, Inc. has a 52-week low of $5.31 and a 52-week high of $6.98. The firm has a market capitalization of $640.48 million, a price-to-earnings ratio of -24.67 and a beta of 1.99. The stock has a 50 day moving average price of $6.08 and a 200 day moving average price of $6.38. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.13 and a current ratio of 1.13.
Summit Hotel Properties Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 5.41%. This is a boost from Summit Hotel Properties’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, May 16th. Summit Hotel Properties’s dividend payout ratio is presently -133.33%.
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.
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