BNP Paribas Financial Markets Acquires 6,661 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

BNP Paribas Financial Markets lifted its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 28.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,425 shares of the real estate investment trust’s stock after buying an additional 6,661 shares during the period. BNP Paribas Financial Markets’ holdings in Summit Hotel Properties were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in INN. Panagora Asset Management Inc. acquired a new position in Summit Hotel Properties during the second quarter valued at approximately $604,000. Allegheny Financial Group LTD lifted its holdings in shares of Summit Hotel Properties by 9.1% in the second quarter. Allegheny Financial Group LTD now owns 251,718 shares of the real estate investment trust’s stock worth $1,508,000 after acquiring an additional 20,922 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Summit Hotel Properties by 1.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,415,216 shares of the real estate investment trust’s stock valued at $14,467,000 after purchasing an additional 26,342 shares in the last quarter. Choreo LLC bought a new stake in shares of Summit Hotel Properties during the 2nd quarter valued at approximately $86,000. Finally, Texas Permanent School Fund Corp increased its position in Summit Hotel Properties by 23.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 115,854 shares of the real estate investment trust’s stock worth $694,000 after purchasing an additional 22,354 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Up 2.2 %

Shares of NYSE:INN opened at $6.85 on Tuesday. Summit Hotel Properties, Inc. has a 52-week low of $5.66 and a 52-week high of $7.22. The company has a market capitalization of $742.66 million, a PE ratio of 685.00 and a beta of 2.05. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.78. The company has a fifty day moving average of $6.48 and a 200-day moving average of $6.36.

Summit Hotel Properties (NYSE:INN) last posted its 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 net margin of 3.41% and a return on equity of 1.87%. The firm had revenue of $176.81 million during the quarter, compared to the consensus estimate of $176.24 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. On average, equities analysts predict that Summit Hotel Properties, Inc. will post 0.89 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend was 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.