Summit Hotel Properties (NYSE:INN) Sets New 12-Month Low – Should You Sell?

Summit Hotel Properties, Inc. (NYSE:INN) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.42 and last traded at $5.42, with a volume of 160671 shares trading hands. The stock had previously closed at $5.59.

Summit Hotel Properties Stock Performance

The business’s fifty day moving average price is $6.36 and its 200-day moving average price is $6.52. The stock has a market cap of $601.06 million, a PE ratio of 546.50, 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date was Friday, February 14th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 177.78%.

Institutional Trading of Summit Hotel Properties

Several large investors have recently added to or reduced their stakes in the business. Indaba Capital Management L.P. bought a new position in Summit Hotel Properties in the 3rd quarter worth approximately $4,248,000. H 2 Credit Manager LP grew its stake in shares of Summit Hotel Properties by 43.0% during the third quarter. H 2 Credit Manager LP now owns 7,167,331 shares of the real estate investment trust’s stock valued at $49,168,000 after buying an additional 2,156,700 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Summit Hotel Properties by 21.6% during the fourth quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust’s stock valued at $45,924,000 after purchasing an additional 1,191,506 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Summit Hotel Properties by 430.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,491 shares of the real estate investment trust’s stock worth $4,881,000 after acquiring an additional 577,300 shares in the last quarter. Finally, Barclays PLC raised its position in Summit Hotel Properties by 40.2% during the 3rd quarter. Barclays PLC now owns 1,193,305 shares of the real estate investment trust’s stock valued at $8,185,000 after purchasing an additional 342,408 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors.

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.