Asset Management One Co. Ltd. Has $1.09 Million Stock Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Asset Management One Co. Ltd. lessened its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 160,961 shares of the real estate investment trust’s stock after selling 1,759 shares during the quarter. Asset Management One Co. Ltd. owned about 0.15% of Summit Hotel Properties worth $1,091,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Loomis Sayles & Co. L P lifted its stake in shares of Summit Hotel Properties by 3,505.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 7,464 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 7,257 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Summit Hotel Properties during the third quarter worth about $57,000. KBC Group NV increased its position in Summit Hotel Properties by 76.5% during 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 during the period. Metis Global Partners LLC bought a new position in Summit Hotel Properties during the third quarter worth about $81,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Summit Hotel Properties by 193.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,147 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 8,006 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

NYSE:INN opened at $6.52 on Friday. Summit Hotel Properties, Inc. has a 52 week low of $5.66 and a 52 week high of $7.22. The firm has a market cap of $706.36 million, a price-to-earnings ratio of 651.50, a P/E/G ratio of 1.58 and a beta of 2.02. The firm’s 50-day simple moving average is $6.71 and its 200 day simple moving average is $6.60. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Friday, February 14th. Summit Hotel Properties’s dividend 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.