KBC Group NV Grows Stock Position in Summit Hotel Properties, Inc. (NYSE:INN)

KBC Group NV boosted its position in Summit Hotel Properties, Inc. (NYSE:INN) by 76.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,177 shares of the real estate investment trust’s stock after buying an additional 3,979 shares during the period. KBC Group NV’s holdings in Summit Hotel Properties were worth $63,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Summit Hotel Properties by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 15,130,679 shares of the real estate investment trust’s stock valued at $98,501,000 after buying an additional 439,383 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Summit Hotel Properties by 1.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust’s stock worth $1,537,000 after acquiring an additional 3,540 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Summit Hotel Properties in the first quarter valued at $79,000. Price T Rowe Associates Inc. MD lifted its holdings in Summit Hotel Properties by 8.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,781 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 5,036 shares during the period. Finally, Mount Yale Investment Advisors LLC boosted its position in shares of Summit Hotel Properties by 101.1% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 20,513 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 10,312 shares in the last quarter. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Performance

Shares of INN opened at $6.37 on Friday. 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 52-week low of $5.66 and a 52-week high of $7.22. The company has a 50-day simple moving average of $6.53 and a 200-day simple moving average of $6.28. The company has a market capitalization of $690.64 million, a PE ratio of 637.00 and a beta of 2.05.

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

Summit Hotel Properties Dividend Announcement

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

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.