Summit Hotel Properties, Inc. (NYSE:INN) Short Interest Up 24.0% in February

Summit Hotel Properties, Inc. (NYSE:INN) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 3,310,000 shares, a growth of 24.0% from the February 13th total of 2,670,000 shares. Based on an average daily trading volume, of 695,500 shares, the days-to-cover ratio is presently 4.8 days. Approximately 3.1% of the shares of the stock are sold short.

Summit Hotel Properties Stock Up 2.2 %

Summit Hotel Properties stock opened at $5.79 on Tuesday. The stock has a market capitalization of $635.09 million, a PE ratio of 578.50, a price-to-earnings-growth ratio of 1.54 and a beta of 2.04. Summit Hotel Properties has a 12 month low of $5.50 and a 12 month high of $7.22. The business has a 50 day simple moving average of $6.50 and a 200-day simple moving average of $6.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.78 and a quick ratio of 0.78.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 177.78%.

Institutional Trading of Summit Hotel Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Summit Hotel Properties in the fourth quarter worth approximately $77,000. Squarepoint Ops LLC boosted its stake in shares of Summit Hotel Properties by 132.9% in the fourth quarter. Squarepoint Ops LLC now owns 38,727 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 22,101 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Summit Hotel Properties by 28.3% in the fourth quarter. Two Sigma Investments LP now owns 371,666 shares of the real estate investment trust’s stock worth $2,546,000 after acquiring an additional 81,917 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Summit Hotel Properties by 3.5% in the fourth quarter. Systematic Financial Management LP now owns 1,075,454 shares of the real estate investment trust’s stock worth $7,367,000 after acquiring an additional 36,770 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Summit Hotel Properties in the fourth quarter worth approximately $232,000. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

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.