Centiva Capital LP Increases Stake in Summit Hotel Properties, Inc. (NYSE:INN)

Centiva Capital LP boosted its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 25.5% in the third quarter, Holdings Channel.com reports. The firm owned 65,278 shares of the real estate investment trust’s stock after acquiring an additional 13,257 shares during the quarter. Centiva Capital LP’s holdings in Summit Hotel Properties were worth $448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Summit Hotel Properties by 8.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,781 shares of the real estate investment trust’s stock valued at $429,000 after buying an additional 5,036 shares during the period. Panagora Asset Management Inc. acquired a new stake in Summit Hotel Properties during the second quarter worth about $604,000. Allegheny Financial Group LTD raised its holdings in shares of Summit Hotel Properties by 9.1% in the 2nd quarter. Allegheny Financial Group LTD now owns 251,718 shares of the real estate investment trust’s stock worth $1,508,000 after purchasing an additional 20,922 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Summit Hotel Properties by 1.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,415,216 shares of the real estate investment trust’s stock valued at $14,467,000 after purchasing an additional 26,342 shares in the last quarter. Finally, Choreo LLC purchased a new stake in shares of Summit Hotel Properties during the 2nd quarter worth about $86,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Trading Down 0.1 %

Shares of INN stock opened at $6.75 on Monday. Summit Hotel Properties, Inc. has a fifty-two week low of $5.66 and a fifty-two week high of $7.22. The firm’s 50 day moving average price is $6.50 and its two-hundred day moving average price is $6.33. The stock has a market cap of $731.84 million, a price-to-earnings ratio of 675.00 and a beta of 2.05. 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 (NYSE:INN) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.22). The business had revenue of $176.81 million for the quarter, compared to analysts’ expectations of $176.24 million. Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. During the same period last year, the company posted $0.22 earnings per share. On average, analysts anticipate that Summit Hotel Properties, Inc. will post 0.89 EPS for the current year.

Summit Hotel Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend was Friday, November 15th. Summit Hotel Properties’s dividend payout ratio 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.