Daiwa Securities Group Inc. Grows Position in Summit Hotel Properties, Inc. (NYSE:INN)

Daiwa Securities Group Inc. raised its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,785 shares of the real estate investment trust’s stock after purchasing an additional 2,125 shares during the period. Daiwa Securities Group Inc.’s holdings in Summit Hotel Properties were worth $245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lighthouse Investment Partners LLC bought a new position in shares of Summit Hotel Properties in the second quarter valued at approximately $2,845,000. Segall Bryant & Hamill LLC bought a new position in Summit Hotel Properties in the 3rd quarter valued at $3,123,000. Vanguard Group Inc. grew its position in shares of Summit Hotel Properties by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 15,130,679 shares of the real estate investment trust’s stock valued at $98,501,000 after purchasing an additional 439,383 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Summit Hotel Properties by 233.1% in 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 purchasing an additional 207,586 shares during the period. Finally, Algert Global LLC raised its position in shares of Summit Hotel Properties by 86.7% in the third quarter. Algert Global LLC now owns 250,355 shares of the real estate investment trust’s stock worth $1,717,000 after buying an additional 116,260 shares in the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Up 0.9 %

Shares of NYSE INN opened at $6.58 on Monday. The business has a 50-day moving average of $6.51 and a 200-day moving average of $6.30. The firm has a market capitalization of $713.40 million, a price-to-earnings ratio of 658.00 and a beta of 2.05. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. Summit Hotel Properties, Inc. has a 12 month low of $5.66 and a 12 month high of $7.22.

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 firm had revenue of $176.81 million for the quarter, compared to the consensus estimate of $176.24 million. Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. During the same period last year, the firm earned $0.22 EPS. Sell-side analysts expect that Summit Hotel Properties, Inc. will post 0.89 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Friday, November 15th. Summit Hotel Properties’s dividend payout ratio is 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.