Caxton Associates LP Has $122,000 Stock Position in Summit Hotel Properties, Inc. (NYSE:INN)

Caxton Associates LP grew its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 75.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,440 shares of the real estate investment trust’s stock after acquiring an additional 8,804 shares during the quarter. Caxton Associates LP’s holdings in Summit Hotel Properties were worth $122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INN. Jennison Associates LLC boosted its holdings in Summit Hotel Properties by 7.6% in the 1st quarter. Jennison Associates LLC now owns 5,357,138 shares of the real estate investment trust’s stock valued at $34,875,000 after purchasing an additional 379,223 shares during the period. US Bancorp DE boosted its stake in shares of Summit Hotel Properties by 46.2% in the first quarter. US Bancorp DE now owns 148,424 shares of the real estate investment trust’s stock valued at $966,000 after buying an additional 46,895 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Summit Hotel Properties by 1.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust’s stock worth $1,537,000 after buying an additional 3,540 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Summit Hotel Properties by 8.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,781 shares of the real estate investment trust’s stock worth $429,000 after acquiring an additional 5,036 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Summit Hotel Properties by 8.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 125,300 shares of the real estate investment trust’s stock valued at $842,000 after acquiring an additional 10,200 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors and hedge funds.

Summit Hotel Properties Stock Performance

NYSE:INN opened at $6.87 on Friday. The company has a market cap of $743.28 million, a price-to-earnings ratio of -28.63 and a beta of 2.04. Summit Hotel Properties, Inc. has a fifty-two week low of $5.31 and a fifty-two week high of $7.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average price of $6.50 and a 200-day moving average price of $6.24.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $191.05 million. During the same period in the prior year, the company earned $0.27 EPS. As a group, equities analysts anticipate that Summit Hotel Properties, Inc. will post 0.89 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors 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 dividend on an annualized basis and a yield of 4.66%. Summit Hotel Properties’s dividend payout ratio (DPR) is -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.