Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in Summit Hotel Properties, Inc. (NYSE:INN)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,895 shares of the real estate investment trust’s stock after selling 2,641 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Summit Hotel Properties worth $835,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Loomis Sayles & Co. L P raised its stake in 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 valued at $51,000 after purchasing an additional 7,257 shares during the period. Sunbelt Securities Inc. bought a new stake in Summit Hotel Properties during the 3rd quarter valued at approximately $57,000. KBC Group NV raised its stake in Summit Hotel Properties by 76.5% during the 3rd quarter. KBC Group NV now owns 9,177 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 3,979 shares during the period. Metis Global Partners LLC bought a new stake in Summit Hotel Properties during the 3rd quarter valued at approximately $81,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in Summit Hotel Properties by 193.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,147 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 8,006 shares during the period. 96.47% of the stock is owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Down 0.8 %

Shares of INN opened at $6.53 on Friday. The business’s 50 day moving average is $6.73 and its 200 day moving average is $6.60. The company has a market capitalization of $707.44 million, a PE ratio of 652.50 and a beta of 2.02. Summit Hotel Properties, Inc. has a 12-month low of $5.66 and a 12-month 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.

Summit Hotel Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Friday, February 14th. Summit Hotel Properties’s dividend payout ratio (DPR) 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.