Gamco Investors INC. ET AL Reduces Position in Summit Hotel Properties, Inc. (NYSE:INN)

Gamco Investors INC. ET AL lessened its stake in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 96.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,500 shares of the real estate investment trust's stock after selling 400,000 shares during the quarter. Gamco Investors INC. ET AL's holdings in Summit Hotel Properties were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jennison Associates LLC grew its holdings in shares of Summit Hotel Properties by 21.6% in the fourth quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust's stock valued at $45,924,000 after purchasing an additional 1,191,506 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Summit Hotel Properties by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,788,634 shares of the real estate investment trust's stock worth $19,134,000 after buying an additional 56,027 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Summit Hotel Properties by 5.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,577,615 shares of the real estate investment trust's stock valued at $17,657,000 after buying an additional 141,010 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Summit Hotel Properties by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,590,760 shares of the real estate investment trust's stock valued at $10,897,000 after acquiring an additional 24,925 shares during the last quarter. Finally, Barclays PLC grew its position in Summit Hotel Properties by 40.2% in 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. Institutional investors own 96.47% of the company's stock.

Summit Hotel Properties Trading Down 0.9 %

NYSE INN traded down $0.04 during trading hours on Friday, hitting $3.93. 197,377 shares of the company were exchanged, compared to its average volume of 781,249. The stock has a market cap of $437.17 million, a PE ratio of 392.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.78. Summit Hotel Properties, Inc. has a 52 week low of $3.57 and a 52 week high of $7.22. The stock has a 50-day moving average price of $5.28 and a 200 day moving average price of $6.14. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01.

Summit Hotel Properties Dividend Announcement

The business 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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 8.15%. Summit Hotel Properties's dividend payout ratio is presently 177.78%.

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.