Inceptionr LLC Increases Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Inceptionr LLC boosted its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 34.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,727 shares of the real estate investment trust’s stock after buying an additional 9,921 shares during the period. Inceptionr LLC’s holdings in Summit Hotel Properties were worth $265,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INN. Wolverine Asset Management LLC boosted its position in shares of Summit Hotel Properties by 123.2% during 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 acquiring an additional 34,000 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Summit Hotel Properties by 3,505.8% during the third quarter. Loomis Sayles & Co. L P now owns 7,464 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 7,257 shares during the period. Sunbelt Securities Inc. acquired a new position in Summit Hotel Properties in the 3rd quarter valued at about $57,000. KBC Group NV grew its stake in shares of Summit Hotel Properties by 76.5% in the 3rd quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 3,979 shares during the period. Finally, Metis Global Partners LLC acquired a new stake in shares of Summit Hotel Properties during the 3rd quarter worth approximately $81,000. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Up 2.7 %

INN stock opened at $6.63 on Monday. Summit Hotel Properties, Inc. has a one year low of $5.66 and a one year high of $7.22. The firm has a market cap of $727.31 million, a PE ratio of 662.50, a PEG ratio of 1.54 and a beta of 2.04. The firm’s 50 day moving average price is $6.62 and its 200-day moving average price is $6.61. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 4.83%. Summit Hotel Properties’s dividend payout ratio is currently 177.78%.

About Summit Hotel Properties

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.