Charles Schwab Investment Management Inc. Raises Stake in Summit Hotel Properties, Inc. (NYSE:INN)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 1.6% in the fourth quarter, HoldingsChannel reports. The fund owned 1,590,760 shares of the real estate investment trust’s stock after acquiring an additional 24,925 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Summit Hotel Properties were worth $10,897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wolverine Asset Management LLC increased its stake in Summit Hotel Properties by 123.2% during 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 purchasing an additional 34,000 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Summit Hotel Properties by 3,505.8% during the 3rd 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 in the last quarter. Sunbelt Securities Inc. bought a new stake in Summit Hotel Properties during the 3rd quarter valued at about $57,000. KBC Group NV increased its stake in Summit Hotel Properties by 76.5% during 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. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Summit Hotel Properties by 193.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,147 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 8,006 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Down 1.9 %

NYSE:INN opened at $5.57 on Friday. The firm has a 50-day simple moving average of $6.43 and a two-hundred day simple moving average of $6.54. Summit Hotel Properties, Inc. has a fifty-two week low of $5.42 and a fifty-two week high of $7.22. The firm has a market cap of $610.94 million, a P/E ratio of 556.50, a P/E/G ratio of 1.54 and a beta of 2.04. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.75%. Summit Hotel Properties’s dividend payout ratio is presently 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.