Universal Beteiligungs und Servicegesellschaft mbH Invests $585,000 in Summit Hotel Properties, Inc. (NYSE:INN)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has invested approximately $585,000 in Summit Hotel Properties, acquiring 108,105 shares, which represents a 0.10% ownership stake as of the latest filing.
• Increases in holdings by several hedge funds were reported, with notable boosts from Miracle ASSET GLOBAL ETFS HOLDINGS Ltd. (3.6%) and GAMMA Investing LLC (453.0%) during the previous quarter.
• Analysts have adjusted their price targets for Summit Hotel Properties, with Bank of America raising it from $5.00 to $5.75 while Wall Street Zen downgraded the stock from "hold" to "sell".

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 108,105 shares of the real estate investment trust's stock, valued at approximately $585,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.10% of Summit Hotel Properties as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INN. Alyeska Investment Group L.P. increased its position in shares of Summit Hotel Properties by 0.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 598,819 shares of the real estate investment trust's stock worth $4,102,000 after purchasing an additional 1,721 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Summit Hotel Properties by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,726 shares of the real estate investment trust's stock worth $409,000 after purchasing an additional 2,083 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Summit Hotel Properties by 10.2% during the 4th quarter. MetLife Investment Management LLC now owns 62,879 shares of the real estate investment trust's stock worth $431,000 after purchasing an additional 5,845 shares in the last quarter. CWC Advisors LLC. increased its position in shares of Summit Hotel Properties by 31.5% during the 1st quarter. CWC Advisors LLC. now owns 27,307 shares of the real estate investment trust's stock worth $148,000 after purchasing an additional 6,544 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Summit Hotel Properties by 453.0% during the 1st quarter. GAMMA Investing LLC now owns 8,218 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 6,732 shares in the last quarter. 96.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Summit Hotel Properties from $5.00 to $5.75 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen cut shares of Summit Hotel Properties from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Summit Hotel Properties Trading Down 3.9%

INN opened at $5.02 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $562.78 million, a PE ratio of 31.35 and a beta of 1.73. Summit Hotel Properties, Inc. has a 1-year low of $3.57 and a 1-year high of $7.22. The firm has a 50-day moving average price of $5.02 and a two-hundred day moving average price of $5.27.

Summit Hotel Properties (NYSE:INN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $184.48 million during the quarter, compared to analysts' expectations of $184.93 million. Summit Hotel Properties had a net margin of 5.46% and a return on equity of 2.98%. As a group, equities analysts anticipate that Summit Hotel Properties, Inc. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas W. Storey acquired 16,270 shares of the stock in a transaction on Tuesday, May 13th. The stock was purchased at an average price of $4.62 per share, for a total transaction of $75,167.40. Following the transaction, the director owned 231,337 shares of the company's stock, valued at $1,068,776.94. The trade was a 7.57% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.83% of the company's stock.

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.

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