Victory Capital Management Inc. Has $16.72 Million Stock Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Victory Capital Management Inc. grew its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,436,605 shares of the real estate investment trust’s stock after buying an additional 21,389 shares during the quarter. Victory Capital Management Inc. owned 2.25% of Summit Hotel Properties worth $16,715,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in INN. Asset Management One Co. Ltd. increased its position in shares of Summit Hotel Properties by 1.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 162,720 shares of the real estate investment trust’s stock worth $1,116,000 after purchasing an additional 1,888 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Summit Hotel Properties by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 18,037 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,980 shares in the last quarter. abrdn plc increased its position in Summit Hotel Properties by 10.5% in the 3rd quarter. abrdn plc now owns 21,553 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 2,056 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Summit Hotel Properties by 1.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust’s stock valued at $1,537,000 after acquiring an additional 3,540 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Summit Hotel Properties by 8.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,781 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 5,036 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Trading Up 0.2 %

INN opened at $6.10 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $661.36 million, a PE ratio of 610.00 and a beta of 2.05. Summit Hotel Properties, Inc. has a 1-year low of $5.66 and a 1-year high of $7.22. The firm has a 50-day moving average price of $6.54 and a two-hundred day moving average price of $6.28.

Summit Hotel Properties (NYSE:INN) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.22). The business had revenue of $176.81 million during the quarter, compared to the consensus estimate of $176.24 million. Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. During the same period last year, the business posted $0.22 EPS. As a group, equities analysts anticipate that Summit Hotel Properties, Inc. will post 0.87 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Friday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 3,200.00%.

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.