Amundi Boosts Stake in Summit Hotel Properties, Inc. (NYSE:INN)

Amundi grew its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 22.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 105,562 shares of the real estate investment trust’s stock after buying an additional 19,317 shares during the period. Amundi’s holdings in Summit Hotel Properties were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Summit Hotel Properties by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 19,879 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 1,842 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Summit Hotel Properties by 6.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 35,785 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 2,125 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Summit Hotel Properties by 10.2% in the 4th quarter. New York State Common Retirement Fund now owns 35,258 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 3,274 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Summit Hotel Properties by 12.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 32,157 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 3,502 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Summit Hotel Properties by 76.5% in the 3rd quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,979 shares in the last quarter. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

Shares of Summit Hotel Properties stock opened at $5.74 on Thursday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.78. Summit Hotel Properties, Inc. has a 52-week low of $5.50 and a 52-week high of $7.22. The company has a fifty day moving average of $6.47 and a 200-day moving average of $6.55. The stock has a market capitalization of $629.60 million, a price-to-earnings ratio of 573.50, a price-to-earnings-growth ratio of 1.54 and a beta of 2.04.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties’s payout ratio is 177.78%.

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.