Segall Bryant & Hamill LLC Takes Position in Summit Hotel Properties, Inc. (NYSE:INN)

Segall Bryant & Hamill LLC acquired a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 455,175 shares of the real estate investment trust’s stock, valued at approximately $3,123,000.

Other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in shares of 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 worth $63,000 after purchasing an additional 3,979 shares during the last quarter. MQS Management LLC acquired a new position in shares of Summit Hotel Properties in the second quarter valued at approximately $75,000. EntryPoint Capital LLC acquired a new position in shares of Summit Hotel Properties in the first quarter valued at approximately $79,000. Metis Global Partners LLC acquired a new position in shares of Summit Hotel Properties in the third quarter valued at approximately $81,000. Finally, Choreo LLC acquired a new position in shares of Summit Hotel Properties in the second quarter valued at approximately $86,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

NYSE:INN opened at $6.37 on Friday. The firm has a 50 day simple moving average of $6.53 and a 200-day simple moving average of $6.28. 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 $690.64 million, a PE ratio of 637.00 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.

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

Summit Hotel Properties Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date is Friday, November 15th. Summit Hotel Properties’s dividend payout ratio is presently 3,200.00%.

Summit Hotel Properties 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.