Zurcher Kantonalbank Zurich Cantonalbank Has $1.09 Million Position in Summit Hotel Properties, Inc. (NYSE:INN)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 43.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,367 shares of the real estate investment trust’s stock after acquiring an additional 47,877 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Summit Hotel Properties were worth $1,085,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of Summit Hotel Properties by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 19,879 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,842 shares during the period. Daiwa Securities Group Inc. grew its stake in Summit Hotel Properties by 6.3% during the third quarter. Daiwa Securities Group Inc. now owns 35,785 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 2,125 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Summit Hotel Properties by 10.2% in the 4th quarter. New York State Common Retirement Fund now owns 35,258 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 3,274 shares during the period. Point72 Asset Management L.P. raised its position in shares of Summit Hotel Properties by 12.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 32,157 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 3,502 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of 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 worth $63,000 after acquiring an additional 3,979 shares during the period. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Up 2.2 %

Shares of INN opened at $5.74 on Thursday. The firm has a 50 day simple moving average of $6.47 and a two-hundred day simple moving average of $6.55. The company has a market cap of $629.60 million, a P/E ratio of 573.50, a P/E/G ratio of 1.54 and a beta of 2.04. Summit Hotel Properties, Inc. has a one year low of $5.50 and a one year high of $7.22. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.58%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 177.78%.

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.