GSA Capital Partners LLP Sells 116,854 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

GSA Capital Partners LLP lessened its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 73.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,866 shares of the real estate investment trust’s stock after selling 116,854 shares during the period. GSA Capital Partners LLP’s holdings in Summit Hotel Properties were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in INN. Lighthouse Investment Partners LLC bought a new stake in shares of Summit Hotel Properties in the second quarter valued at about $2,845,000. Vanguard Group Inc. lifted its stake in Summit Hotel Properties by 3.0% during the first quarter. Vanguard Group Inc. now owns 15,130,679 shares of the real estate investment trust’s stock worth $98,501,000 after purchasing an additional 439,383 shares during the period. AQR Capital Management LLC lifted its stake in Summit Hotel Properties by 233.1% during the second quarter. AQR Capital Management LLC now owns 296,639 shares of the real estate investment trust’s stock worth $1,777,000 after purchasing an additional 207,586 shares during the period. Panagora Asset Management Inc. bought a new position in Summit Hotel Properties during the second quarter worth about $604,000. Finally, Dimensional Fund Advisors LP lifted its stake in Summit Hotel Properties by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,956 shares of the real estate investment trust’s stock worth $9,655,000 after purchasing an additional 80,577 shares during the period. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Up 2.2 %

Shares of INN opened at $6.37 on Friday. The stock has a market cap of $690.64 million, a price-to-earnings ratio of 637.00 and a beta of 2.05. 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, Inc. has a 12 month low of $5.66 and a 12 month high of $7.22. The company has a 50-day moving average price of $6.53 and a two-hundred day moving average price of $6.28.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.22). The business had revenue of $176.81 million for the quarter, compared to the consensus estimate of $176.24 million. Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. During the same quarter in the prior year, the business earned $0.22 EPS. Equities analysts predict that Summit Hotel Properties, Inc. will post 0.87 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 3,200.00%.

About Summit Hotel Properties

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.