Segall Bryant & Hamill LLC Buys Shares of 455,175 Summit Hotel Properties, Inc. (NYSE:INN)

Segall Bryant & Hamill LLC bought a new stake in Summit Hotel Properties, Inc. (NYSE:INN) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 455,175 shares of the real estate investment trust’s stock, valued at approximately $3,123,000. Segall Bryant & Hamill LLC owned about 0.42% of Summit Hotel Properties at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of INN. KBC Group NV grew its stake 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 last quarter. MQS Management LLC purchased a new position in shares of Summit Hotel Properties in the 2nd quarter valued at approximately $75,000. EntryPoint Capital LLC purchased a new position in shares of Summit Hotel Properties in the 1st quarter valued at approximately $79,000. Metis Global Partners LLC purchased a new position in shares of Summit Hotel Properties in the 3rd quarter valued at approximately $81,000. Finally, Choreo LLC purchased a new stake in shares of Summit Hotel Properties in the second quarter valued at approximately $86,000. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Up 2.2 %

Summit Hotel Properties stock opened at $6.37 on Friday. 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, Inc. has a 1-year low of $5.66 and a 1-year high of $7.22. The company has a market cap of $690.64 million, a PE ratio of 637.00 and a beta of 2.05. The stock’s 50 day moving average price is $6.53 and its 200 day moving average price is $6.28.

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 for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.22). Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. The business had revenue of $176.81 million during the quarter, compared to analysts’ expectations of $176.24 million. During the same quarter last year, the firm earned $0.22 earnings per share. On average, sell-side analysts predict that Summit Hotel Properties, Inc. will post 0.87 EPS for the current fiscal year.

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.02%. Summit Hotel Properties’s dividend payout ratio (DPR) 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.