Commonwealth of Pennsylvania Public School Empls Retrmt SYS Acquires 15,493 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 37.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,085 shares of the real estate investment trust’s stock after buying an additional 15,493 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.05% of Summit Hotel Properties worth $391,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INN. Wolverine Asset Management LLC grew its stake in shares of Summit Hotel Properties by 123.2% in the 4th quarter. Wolverine Asset Management LLC now owns 6,400 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 34,000 shares during the period. Loomis Sayles & Co. L P grew its stake in Summit Hotel Properties by 3,505.8% in the third quarter. Loomis Sayles & Co. L P now owns 7,464 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 7,257 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of Summit Hotel Properties during the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Summit Hotel Properties by 193.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,147 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 8,006 shares during the period. Finally, Ieq Capital LLC bought a new position in shares of Summit Hotel Properties in the 4th quarter worth $87,000. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Performance

NYSE INN opened at $5.45 on Friday. 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 company has a fifty day simple moving average of $6.34 and a 200 day simple moving average of $6.51. Summit Hotel Properties, Inc. has a 12-month low of $5.42 and a 12-month high of $7.22. The company has a market cap of $597.98 million, a P/E ratio of 544.70, a PEG ratio of 1.54 and a beta of 2.04.

Summit Hotel Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties’s payout ratio is presently 177.78%.

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.