Victory Capital Management Inc. Has $14.47 Million Position in Summit Hotel Properties, Inc. (NYSE:INN)

Victory Capital Management Inc. increased its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,415,216 shares of the real estate investment trust’s stock after purchasing an additional 26,342 shares during the period. Victory Capital Management Inc. owned approximately 2.23% of Summit Hotel Properties worth $14,467,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Fidelis Capital Partners LLC acquired a new stake in Summit Hotel Properties during the 1st quarter worth approximately $30,000. Quadrant Capital Group LLC raised its holdings 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 worth $32,000 after acquiring an additional 2,454 shares during the period. EntryPoint Capital LLC bought a new stake in Summit Hotel Properties in the 1st quarter valued at $79,000. Quadrature Capital Ltd acquired a new position in Summit Hotel Properties in the 4th quarter worth $93,000. Finally, Mount Yale Investment Advisors LLC increased its holdings in Summit Hotel Properties by 101.1% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 20,513 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 10,312 shares in the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock opened at $6.46 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $699.33 million, a price-to-earnings ratio of -26.90 and a beta of 2.04. The stock’s 50-day moving average is $6.32 and its 200-day moving average is $6.22. Summit Hotel Properties, Inc. has a one year low of $5.31 and a one year high of $6.98.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Summit Hotel Properties had a return on equity of 1.76% and a net margin of 3.23%. The firm had revenue of $193.90 million for the quarter, compared to analyst estimates of $191.05 million. During the same period last year, the company earned $0.27 EPS. Equities analysts predict that Summit Hotel Properties, Inc. will post 0.89 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.32 annualized dividend and a yield of 4.96%. Summit Hotel Properties’s payout ratio is currently -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.