Point72 Asset Management L.P. Has $221,000 Stock Position in Summit Hotel Properties, Inc. (NYSE:INN)

Point72 Asset Management L.P. grew its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 12.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,157 shares of the real estate investment trust’s stock after purchasing an additional 3,502 shares during the period. Point72 Asset Management L.P.’s holdings in Summit Hotel Properties were worth $221,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. H 2 Credit Manager LP lifted its position in Summit Hotel Properties by 43.0% during the 3rd quarter. H 2 Credit Manager LP now owns 7,167,331 shares of the real estate investment trust’s stock worth $49,168,000 after buying an additional 2,156,700 shares in the last quarter. Jennison Associates LLC increased its position in shares of Summit Hotel Properties by 1.9% in the third quarter. Jennison Associates LLC now owns 5,512,683 shares of the real estate investment trust’s stock valued at $37,817,000 after acquiring an additional 103,731 shares during the last quarter. Indaba Capital Management L.P. bought a new stake in Summit Hotel Properties during the third quarter worth about $4,248,000. Victory Capital Management Inc. boosted its position in Summit Hotel Properties by 0.9% during the third quarter. Victory Capital Management Inc. now owns 2,436,605 shares of the real estate investment trust’s stock valued at $16,715,000 after purchasing an additional 21,389 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Summit Hotel Properties by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,956 shares of the real estate investment trust’s stock valued at $9,655,000 after purchasing an additional 80,577 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Down 1.7 %

NYSE:INN opened at $6.72 on Friday. The firm has a market capitalization of $728.03 million, a price-to-earnings ratio of 671.50 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, Inc. has a twelve month low of $5.66 and a twelve month high of $7.22. The stock’s 50 day moving average price is $6.49 and its two-hundred day moving average price is $6.35.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.22). The firm had revenue of $176.81 million for the quarter, compared to the consensus estimate 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. Equities research analysts expect that Summit Hotel Properties, Inc. will post 0.89 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.08 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.77%. Summit Hotel Properties’s payout ratio is 3,200.00%.

About Summit Hotel Properties

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.