Barclays PLC Purchases 342,408 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Barclays PLC boosted its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 40.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,193,305 shares of the real estate investment trust’s stock after purchasing an additional 342,408 shares during the quarter. Barclays PLC owned about 1.10% of Summit Hotel Properties worth $8,185,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INN. Panagora Asset Management Inc. purchased a new stake in shares of Summit Hotel Properties during the second quarter valued at approximately $604,000. Allegheny Financial Group LTD boosted its stake in Summit Hotel Properties by 9.1% during the 2nd quarter. Allegheny Financial Group LTD now owns 251,718 shares of the real estate investment trust’s stock valued at $1,508,000 after purchasing an additional 20,922 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Summit Hotel Properties by 1.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,415,216 shares of the real estate investment trust’s stock worth $14,467,000 after purchasing an additional 26,342 shares in the last quarter. Choreo LLC purchased a new position in shares of Summit Hotel Properties in the second quarter worth $86,000. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of Summit Hotel Properties by 23.9% during the second quarter. Texas Permanent School Fund Corp now owns 115,854 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 22,354 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Trading Up 0.7 %

Summit Hotel Properties stock opened at $6.90 on Wednesday. Summit Hotel Properties, Inc. has a one year low of $5.66 and a one year high of $7.22. The business’s fifty day moving average is $6.48 and its 200 day moving average is $6.36. 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 stock has a market capitalization of $747.54 million, a PE ratio of 690.00 and a beta of 2.05.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.22). The company had revenue of $176.81 million during the quarter, compared to the consensus estimate of $176.24 million. Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. During the same quarter in the prior year, the firm earned $0.22 earnings per share. On average, sell-side analysts predict that Summit Hotel Properties, Inc. will post 0.89 EPS for the current year.

Summit Hotel Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.64%. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 3,200.00%.

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.