Yousif Capital Management LLC Sells 1,910 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Yousif Capital Management LLC lessened its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,842 shares of the real estate investment trust’s stock after selling 1,910 shares during the quarter. Yousif Capital Management LLC’s holdings in Summit Hotel Properties were worth $287,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. abrdn plc increased its stake in shares of Summit Hotel Properties by 30.6% in the 4th quarter. abrdn plc now owns 28,153 shares of the real estate investment trust’s stock valued at $193,000 after acquiring an additional 6,600 shares during the last quarter. Jennison Associates LLC increased its stake in Summit Hotel Properties by 21.6% in the fourth 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 in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in Summit Hotel Properties in the fourth quarter worth $140,000. SG Americas Securities LLC bought a new position in shares of Summit Hotel Properties during the fourth quarter worth $147,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Summit Hotel Properties by 14.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 92,477 shares of the real estate investment trust’s stock valued at $633,000 after buying an additional 11,839 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock opened at $6.53 on Tuesday. The stock’s fifty day simple moving average is $6.72 and its 200 day simple moving average is $6.60. 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 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.

Summit Hotel Properties Dividend Announcement

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. The ex-dividend date is Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 4.90%. Summit Hotel Properties’s payout ratio is 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.