Summit Hotel Properties, Inc. (NYSE:INN) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its position in shares of Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,497,514 shares of the real estate investment trust's stock after selling 74,192 shares during the quarter. Dimensional Fund Advisors LP owned 1.38% of Summit Hotel Properties worth $10,258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of INN. Barclays PLC lifted its position in shares of Summit Hotel Properties by 40.2% during the third quarter. Barclays PLC now owns 1,193,305 shares of the real estate investment trust's stock worth $8,185,000 after acquiring an additional 342,408 shares in the last quarter. Tidal Investments LLC bought a new position in Summit Hotel Properties in the third quarter worth about $91,000. Franklin Resources Inc. lifted its position in Summit Hotel Properties by 115.6% during the third quarter. Franklin Resources Inc. now owns 121,534 shares of the real estate investment trust's stock valued at $803,000 after buying an additional 65,175 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Summit Hotel Properties by 14.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 92,477 shares of the real estate investment trust's stock worth $633,000 after buying an additional 11,839 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Summit Hotel Properties during the 4th quarter valued at about $147,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised shares of Summit Hotel Properties from an "underperform" rating to a "neutral" rating and set a $5.00 price objective for the company in a research note on Wednesday, April 30th.

Summit Hotel Properties Stock Performance

Summit Hotel Properties stock traded up $0.01 during midday trading on Thursday, hitting $4.52. 201,757 shares of the company were exchanged, compared to its average volume of 817,925. 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, Inc. has a fifty-two week low of $3.57 and a fifty-two week high of $7.22. The business has a fifty day simple moving average of $4.67 and a two-hundred day simple moving average of $5.92. The firm has a market capitalization of $506.68 million, a PE ratio of 451.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.62.

Summit Hotel Properties (NYSE:INN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $184.48 million for the quarter, compared to the consensus estimate of $184.93 million. Summit Hotel Properties had a net margin of 3.41% and a return on equity of 1.87%. On average, sell-side analysts forecast that Summit Hotel Properties, Inc. will post 0.88 earnings per share for the current year.

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 16th. This represents a $0.32 dividend on an annualized basis and a yield of 7.09%. Summit Hotel Properties's dividend payout ratio (DPR) is 200.00%.

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.