Rhumbline Advisers Has $2.08 Million Stock Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Rhumbline Advisers reduced its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,355 shares of the real estate investment trust’s stock after selling 4,578 shares during the period. Rhumbline Advisers owned about 0.32% of Summit Hotel Properties worth $2,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in INN. Fidelis Capital Partners LLC acquired a new stake in Summit Hotel Properties during the 1st quarter worth approximately $30,000. Quadrant Capital Group LLC lifted 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 purchasing an additional 2,454 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Summit Hotel Properties during the first quarter worth $79,000. Quadrature Capital Ltd bought a new stake in shares of Summit Hotel Properties in the fourth quarter worth $93,000. Finally, Mount Yale Investment Advisors LLC increased its holdings in Summit Hotel Properties by 101.1% in the first quarter. Mount Yale Investment Advisors LLC now owns 20,513 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 10,312 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Up 6.4 %

Shares of INN opened at $6.97 on Friday. The stock’s 50-day moving average price is $6.37 and its two-hundred day moving average price is $6.22. Summit Hotel Properties, Inc. has a 12 month low of $5.31 and a 12 month high of $6.98. The company has a market capitalization of $754.10 million, a PE ratio of -29.04 and a beta of 2.04. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.99.

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

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Friday, August 16th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -133.33%.

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.