Van ECK Associates Corp Has $136,000 Stock Position in Summit Hotel Properties, Inc. (NYSE:INN)

Van ECK Associates Corp boosted its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,879 shares of the real estate investment trust’s stock after buying an additional 1,842 shares during the quarter. Van ECK Associates Corp’s holdings in Summit Hotel Properties were worth $136,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. CWC Advisors LLC. bought a new stake in shares of Summit Hotel Properties in the third quarter valued at approximately $145,000. abrdn plc lifted its stake in shares of Summit Hotel Properties by 10.5% in the 3rd quarter. abrdn plc now owns 21,553 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 2,056 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Summit Hotel Properties by 1.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 162,720 shares of the real estate investment trust’s stock worth $1,116,000 after purchasing an additional 1,888 shares during the last quarter. M&G PLC bought a new position in Summit Hotel Properties during the 3rd quarter worth $202,000. Finally, Victory Capital Management Inc. raised its position in shares of Summit Hotel Properties by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,436,605 shares of the real estate investment trust’s stock worth $16,715,000 after acquiring an additional 21,389 shares in the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

INN stock opened at $6.30 on Monday. The stock has a 50-day moving average price of $6.70 and a 200-day moving average price of $6.61. Summit Hotel Properties, Inc. has a 1-year low of $5.66 and a 1-year high of $7.22. 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 firm has a market cap of $682.49 million, a PE ratio of 629.50, a price-to-earnings-growth ratio of 1.54 and a beta of 2.02.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.08%. Summit Hotel Properties’s dividend payout ratio 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.