New York State Common Retirement Fund Purchases 3,274 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

New York State Common Retirement Fund boosted its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 10.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,258 shares of the real estate investment trust’s stock after purchasing an additional 3,274 shares during the quarter. New York State Common Retirement Fund’s holdings in Summit Hotel Properties were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Indaba Capital Management L.P. bought a new position in shares of Summit Hotel Properties in the third quarter worth approximately $4,248,000. H 2 Credit Manager LP lifted its position in Summit Hotel Properties by 43.0% in the 3rd 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 acquiring an additional 2,156,700 shares in the last quarter. Jennison Associates LLC boosted its stake in Summit Hotel Properties by 21.6% during the 4th quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust’s stock valued at $45,924,000 after purchasing an additional 1,191,506 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 worth $4,881,000 after purchasing an additional 577,300 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Summit Hotel Properties in the third quarter worth $3,123,000. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Performance

Shares of NYSE INN opened at $6.55 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. 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 $718.63 million, a PE ratio of 654.60, a PEG ratio of 1.54 and a beta of 2.02. The firm’s 50-day moving average price is $6.64 and its 200-day moving average price is $6.61.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date was Friday, February 14th. Summit Hotel Properties’s dividend payout ratio is 177.78%.

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.