Tudor Investment Corp ET AL Has $506,000 Position in Summit Hotel Properties, Inc. (NYSE:INN)

Tudor Investment Corp ET AL cut its position in Summit Hotel Properties, Inc. (NYSE:INN - Free Report) by 61.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,919 shares of the real estate investment trust's stock after selling 118,291 shares during the quarter. Tudor Investment Corp ET AL owned about 0.07% of Summit Hotel Properties worth $506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INN. Van ECK Associates Corp raised its position in Summit Hotel Properties by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 19,879 shares of the real estate investment trust's stock valued at $136,000 after buying an additional 1,842 shares during the period. New York State Common Retirement Fund increased its stake in Summit Hotel Properties by 10.2% in the 4th quarter. New York State Common Retirement Fund now owns 35,258 shares of the real estate investment trust's stock valued at $242,000 after buying an additional 3,274 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Summit Hotel Properties by 3.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 138,200 shares of the real estate investment trust's stock valued at $947,000 after buying an additional 4,400 shares during the period. MetLife Investment Management LLC boosted its stake 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 valued at $431,000 after buying an additional 5,845 shares during the period. Finally, abrdn plc raised its holdings in shares of Summit Hotel Properties by 30.6% during the fourth quarter. abrdn plc now owns 28,153 shares of the real estate investment trust's stock worth $193,000 after acquiring an additional 6,600 shares in the last quarter. 96.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Summit Hotel Properties Stock Performance

Shares of NYSE INN traded up $0.03 during mid-day trading on Friday, hitting $4.34. The company had a trading volume of 1,408,714 shares, compared to its average volume of 810,867. The firm has a market cap of $487.04 million, a P/E ratio of 434.00, a PEG ratio of 1.54 and a beta of 1.62. 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 12 month low of $3.57 and a 12 month high of $7.22. The business's 50-day simple moving average is $4.78 and its 200-day simple moving average is $5.95.

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

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.32 annualized dividend and a dividend yield of 7.37%. Summit Hotel Properties's payout ratio 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.