Summit Hotel Properties, Inc. (NYSE:INN) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC increased its position in Summit Hotel Properties, Inc. (NYSE:INN) by 4.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 519,495 shares of the real estate investment trust’s stock after acquiring an additional 24,178 shares during the period. Fisher Asset Management LLC’s holdings in Summit Hotel Properties were worth $3,559,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. H 2 Credit Manager LP raised its position in Summit Hotel Properties by 43.0% in the third 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 acquiring an additional 2,156,700 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Summit Hotel Properties by 21.6% in the 4th quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust’s stock worth $45,924,000 after purchasing an additional 1,191,506 shares during the last quarter. Indaba Capital Management L.P. bought a new stake in shares of Summit Hotel Properties in the 3rd quarter worth approximately $4,248,000. Geode Capital Management LLC lifted its stake in Summit Hotel Properties by 2.1% during the third quarter. Geode Capital Management LLC now owns 2,788,634 shares of the real estate investment trust’s stock valued at $19,134,000 after purchasing an additional 56,027 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings 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 worth $16,715,000 after buying an additional 21,389 shares in the last quarter. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

NYSE INN opened at $6.39 on Wednesday. Summit Hotel Properties, Inc. has a 1 year low of $5.66 and a 1 year high of $7.22. The business’s fifty day moving average is $6.65 and its two-hundred day moving average is $6.61. The stock has a market capitalization of $700.96 million, a P/E ratio of 638.50, a P/E/G ratio of 1.54 and a beta of 2.02. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.78.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 177.78%.

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.