Summit Hotel Properties, Inc. (NYSE:INN) Shares Acquired by KBC Group NV

KBC Group NV lifted its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 76.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,177 shares of the real estate investment trust’s stock after purchasing an additional 3,979 shares during the period. KBC Group NV’s holdings in Summit Hotel Properties were worth $63,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MQS Management LLC purchased a new position in Summit Hotel Properties in the second quarter valued at approximately $75,000. EntryPoint Capital LLC purchased a new position in shares of Summit Hotel Properties in the 1st quarter valued at $79,000. Choreo LLC purchased a new position in shares of Summit Hotel Properties in the 2nd quarter valued at $86,000. Caxton Associates LP raised its stake in Summit Hotel Properties by 75.7% during the 2nd quarter. Caxton Associates LP now owns 20,440 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 8,804 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Summit Hotel Properties by 12.3% in the third quarter. Van ECK Associates Corp now owns 18,037 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 1,980 shares during the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of INN stock opened at $6.37 on Friday. The stock’s 50-day moving average is $6.53 and its two-hundred day moving average is $6.28. 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, Inc. has a 1 year low of $5.66 and a 1 year high of $7.22. The firm has a market cap of $690.64 million, a price-to-earnings ratio of 637.00 and a beta of 2.05.

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

Summit Hotel Properties Dividend Announcement

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