Nisa Investment Advisors LLC Purchases 11,839 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Nisa Investment Advisors LLC raised its position in Summit Hotel Properties, Inc. (NYSE:INN) by 14.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 92,477 shares of the real estate investment trust’s stock after acquiring an additional 11,839 shares during the period. Nisa Investment Advisors LLC owned about 0.09% of Summit Hotel Properties worth $633,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of INN. Indaba Capital Management L.P. acquired a new stake in shares of Summit Hotel Properties in the third quarter valued at approximately $4,248,000. H 2 Credit Manager LP grew its position in Summit Hotel Properties by 43.0% in the third quarter. H 2 Credit Manager LP now owns 7,167,331 shares of the real estate investment trust’s stock valued at $49,168,000 after purchasing an additional 2,156,700 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Summit Hotel Properties by 430.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,491 shares of the real estate investment trust’s stock valued at $4,881,000 after buying an additional 577,300 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Summit Hotel Properties during the 3rd quarter worth about $3,123,000. Finally, Barclays PLC boosted its stake in shares of Summit Hotel Properties by 40.2% during the 3rd quarter. Barclays PLC now owns 1,193,305 shares of the real estate investment trust’s stock worth $8,185,000 after buying an additional 342,408 shares during the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

NYSE:INN opened at $6.82 on Wednesday. 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 cap of $738.88 million, a P/E ratio of 681.50 and a beta of 2.03. 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 stock’s 50-day simple moving average is $6.70 and its 200 day simple moving average is $6.55.

Summit Hotel Properties (NYSE:INN) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share 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 analyst estimates of $176.24 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, sell-side analysts forecast that Summit Hotel Properties, Inc. will post 0.88 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, February 14th. Summit Hotel Properties’s payout ratio is presently 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.