Summit Hotel Properties, Inc. (NYSE:INN) is H 2 Credit Manager LP’s 4th Largest Position

H 2 Credit Manager LP boosted its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 43.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,167,331 shares of the real estate investment trust’s stock after acquiring an additional 2,156,700 shares during the quarter. Summit Hotel Properties accounts for approximately 12.7% of H 2 Credit Manager LP’s investment portfolio, making the stock its 4th biggest position. H 2 Credit Manager LP owned 0.07% of Summit Hotel Properties worth $49,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lighthouse Investment Partners LLC purchased a new stake in shares of Summit Hotel Properties in the 2nd quarter worth about $2,845,000. Jennison Associates LLC increased its holdings in shares of Summit Hotel Properties by 1.9% during 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 purchasing an additional 103,731 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Summit Hotel Properties during the 3rd quarter worth about $3,123,000. KBC Group NV increased its holdings in shares of Summit Hotel Properties by 76.5% in 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. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Summit Hotel Properties by 8.3% in 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 in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of NYSE INN opened at $6.58 on Tuesday. Summit Hotel Properties, Inc. has a one year low of $5.66 and a one year high of $7.22. The firm has a market capitalization of $712.86 million, a price-to-earnings ratio of 657.50 and a beta of 2.05. 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 business has a fifty day simple moving average of $6.51 and a 200 day simple moving average of $6.31.

Summit Hotel Properties (NYSE:INN) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.22). The business 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 quarter in the prior year, the firm posted $0.22 earnings per share. Sell-side analysts expect that Summit Hotel Properties, Inc. will post 0.89 EPS for the current year.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors 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 yield of 4.87%. 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.