Quadrature Capital Ltd Invests $93,000 in Summit Hotel Properties, Inc. (NYSE:INN)

Quadrature Capital Ltd acquired a new position in Summit Hotel Properties, Inc. (NYSE:INN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,797 shares of the real estate investment trust’s stock, valued at approximately $93,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in Summit Hotel Properties during the fourth quarter valued at $669,000. Charles Schwab Investment Management Inc. lifted its holdings in Summit Hotel Properties by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,491,396 shares of the real estate investment trust’s stock valued at $10,022,000 after purchasing an additional 99,732 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Summit Hotel Properties by 5.9% during the third quarter. Public Employees Retirement System of Ohio now owns 154,353 shares of the real estate investment trust’s stock valued at $895,000 after purchasing an additional 8,663 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Summit Hotel Properties by 8.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 125,300 shares of the real estate investment trust’s stock valued at $842,000 after purchasing an additional 10,200 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Summit Hotel Properties by 56.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,561 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 2,728 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

INN opened at $5.99 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.08. The company has a market cap of $648.06 million, a price-to-earnings ratio of -24.96 and a beta of 1.99. Summit Hotel Properties, Inc. has a 52-week low of $5.31 and a 52-week high of $6.98. The firm’s fifty day simple moving average is $6.03 and its two-hundred day simple moving average is $6.35.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.20). The company had revenue of $188.14 million for the quarter, compared to analysts’ expectations of $181.40 million. Summit Hotel Properties had a negative net margin of 1.04% and a negative return on equity of 0.56%. During the same period in the previous year, the business earned $0.22 earnings per share. Equities analysts anticipate that Summit Hotel Properties, Inc. will post 0.88 earnings per share for the current fiscal year.

Summit Hotel Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.08 dividend. This is an increase from Summit Hotel Properties’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 5.34%. The ex-dividend date of this dividend was Thursday, May 16th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently -133.33%.

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.