Zurcher Kantonalbank Zurich Cantonalbank Buys 47,877 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 43.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 158,367 shares of the real estate investment trust’s stock after buying an additional 47,877 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.15% of Summit Hotel Properties worth $1,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wolverine Asset Management LLC raised its holdings in Summit Hotel Properties by 123.2% in the 4th quarter. Wolverine Asset Management LLC now owns 6,400 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 34,000 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Summit Hotel Properties by 3,505.8% in the third quarter. Loomis Sayles & Co. L P now owns 7,464 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 7,257 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Summit Hotel Properties in the third quarter valued at approximately $57,000. KBC Group NV increased its stake in shares of Summit Hotel Properties by 76.5% during the third quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 3,979 shares during the period. Finally, Metis Global Partners LLC acquired a new stake in Summit Hotel Properties during the 3rd quarter worth approximately $81,000. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of NYSE INN opened at $5.74 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $629.60 million, a price-to-earnings ratio of 573.50, a P/E/G ratio of 1.54 and a beta of 2.04. The stock’s fifty day moving average price is $6.47 and its two-hundred day moving average price is $6.55. Summit Hotel Properties, Inc. has a one year low of $5.50 and a one year high of $7.22.

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date was Friday, February 14th. Summit Hotel Properties’s dividend 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.