Natixis Advisors LLC Takes Position in Summit Hotel Properties, Inc. (NYSE:INN)

Natixis Advisors LLC purchased a new stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,733 shares of the real estate investment trust’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Management One Co. Ltd. raised its stake in shares of Summit Hotel Properties by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 162,720 shares of the real estate investment trust’s stock valued at $1,116,000 after purchasing an additional 1,888 shares in the last quarter. Van ECK Associates Corp raised 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 worth $124,000 after acquiring an additional 1,980 shares in the last quarter. abrdn plc raised its position in Summit Hotel Properties by 10.5% in the third quarter. abrdn plc now owns 21,553 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 2,056 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Summit Hotel Properties by 1.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust’s stock worth $1,537,000 after acquiring an additional 3,540 shares in the last quarter. Finally, KBC Group NV raised its position in Summit Hotel Properties by 76.5% in the third quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 3,979 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

Shares of Summit Hotel Properties stock opened at $6.59 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’s 50-day moving average price is $6.52 and its two-hundred day moving average price is $6.30. Summit Hotel Properties, Inc. has a 52 week low of $5.66 and a 52 week high of $7.22. The stock has a market cap of $714.47 million, a PE ratio of 658.00 and a beta of 2.05.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate 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 business had revenue of $176.81 million during the quarter, compared to the consensus estimate of $176.24 million. During the same quarter last year, the firm posted $0.22 earnings per share. As a group, sell-side analysts anticipate that Summit Hotel Properties, Inc. will post 0.87 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend was Friday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 3,200.00%.

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.