Summit Hotel Properties, Inc. (NYSE:INN) Position Lessened by GSA Capital Partners LLP

GSA Capital Partners LLP trimmed its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 73.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,866 shares of the real estate investment trust’s stock after selling 116,854 shares during the quarter. GSA Capital Partners LLP’s holdings in Summit Hotel Properties were worth $294,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Summit Hotel Properties by 3.0% during the first quarter. Vanguard Group Inc. now owns 15,130,679 shares of the real estate investment trust’s stock worth $98,501,000 after buying an additional 439,383 shares during the last quarter. Victory Capital Management Inc. increased its position in Summit Hotel Properties by 1.1% during the second quarter. Victory Capital Management Inc. now owns 2,415,216 shares of the real estate investment trust’s stock worth $14,467,000 after buying an additional 26,342 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Summit Hotel Properties by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,956 shares of the real estate investment trust’s stock worth $9,655,000 after buying an additional 80,577 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in Summit Hotel Properties during the second quarter worth $2,845,000. Finally, AQR Capital Management LLC increased its position in Summit Hotel Properties by 233.1% during the second quarter. AQR Capital Management LLC now owns 296,639 shares of the real estate investment trust’s stock worth $1,777,000 after buying an additional 207,586 shares during the last quarter. 96.47% of the stock is owned by institutional investors and hedge funds.

Summit Hotel Properties Trading Up 2.2 %

Summit Hotel Properties stock opened at $6.37 on Friday. 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 company has a market capitalization of $690.64 million, a price-to-earnings ratio of 637.00 and a beta of 2.05. Summit Hotel Properties, Inc. has a one year low of $5.66 and a one year high of $7.22. The company’s fifty day moving average price is $6.53 and its two-hundred day moving average price is $6.28.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.22). The business had revenue of $176.81 million during the quarter, compared to analyst estimates of $176.24 million. Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. During the same period in the prior year, the business posted $0.22 earnings per share. On average, analysts forecast that Summit Hotel Properties, Inc. will post 0.87 earnings per share for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Friday, November 15th. Summit Hotel Properties’s dividend payout ratio 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.