EntryPoint Capital LLC bought a new stake in Summit Hotel Properties, Inc. (NYSE:INN – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,205 shares of the real estate investment trust’s stock, valued at approximately $79,000.
A number of other institutional investors and hedge funds have also modified their holdings of INN. Fidelis Capital Partners LLC acquired a new stake in Summit Hotel Properties in the 1st quarter worth about $30,000. Quadrant Capital Group LLC lifted its position in shares of Summit Hotel Properties by 103.1% in the fourth quarter. Quadrant Capital Group LLC now owns 4,835 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 2,454 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Summit Hotel Properties by 56.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,561 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 2,728 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Summit Hotel Properties during the fourth quarter worth approximately $93,000. Finally, Van ECK Associates Corp lifted its holdings in Summit Hotel Properties by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 14,687 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 2,415 shares in the last quarter. Hedge funds and other institutional investors own 96.47% of the company’s stock.
Summit Hotel Properties Trading Up 3.2 %
Shares of INN opened at $6.11 on Friday. The firm’s fifty day moving average is $5.94 and its two-hundred day moving average is $6.25. The stock has a market cap of $661.05 million, a PE ratio of -25.50 and a beta of 2.03. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.08. Summit Hotel Properties, Inc. has a 52-week low of $5.31 and a 52-week high of $6.98.
Summit Hotel Properties Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.32 annualized dividend and a dividend yield of 5.24%. Summit Hotel Properties’s dividend payout ratio is presently -133.33%.
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.
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