Systematic Financial Management LP lowered its position in Summit Hotel Properties, Inc. (NYSE:INN – Free Report) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 935,220 shares of the real estate investment trust’s stock after selling 10,902 shares during the quarter. Systematic Financial Management LP’s holdings in Summit Hotel Properties were worth $5,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC acquired a new stake in Summit Hotel Properties during the 1st quarter valued at approximately $30,000. EntryPoint Capital LLC acquired a new stake in Summit Hotel Properties during the 1st quarter valued at approximately $79,000. MQS Management LLC acquired a new stake in Summit Hotel Properties during the 2nd quarter valued at approximately $75,000. Quadrature Capital Ltd acquired a new stake in Summit Hotel Properties during the 4th quarter valued at approximately $93,000. Finally, Choreo LLC acquired a new stake in Summit Hotel Properties during the 2nd quarter valued at approximately $86,000. Institutional investors and hedge funds own 96.47% of the company’s stock.
Summit Hotel Properties Stock Performance
Shares of INN stock opened at $6.87 on Monday. 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 52 week low of $5.31 and a 52 week high of $7.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $6.50 and a 200-day moving average of $6.24.
Summit Hotel Properties Dividend Announcement
The business 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 4.66%. The ex-dividend date was Friday, August 16th. Summit Hotel Properties’s dividend payout ratio (DPR) is -133.33%.
Summit Hotel Properties 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.
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