Summit Hotel Properties (NYSE:INN) Hits New 52-Week Low – What’s Next?

Summit Hotel Properties, Inc. (NYSE:INN)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.42 and last traded at $5.42, with a volume of 160671 shares traded. The stock had previously closed at $5.59.

Summit Hotel Properties Stock Performance

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. The firm has a 50-day simple moving average of $6.31 and a 200 day simple moving average of $6.51. The company has a market cap of $591.94 million, a price-to-earnings ratio of 539.20, a price-to-earnings-growth ratio of 1.54 and a beta of 2.04.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend was Friday, February 14th. Summit Hotel Properties’s dividend payout ratio is currently 177.78%.

Institutional Investors Weigh In On Summit Hotel Properties

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Summit Hotel Properties during the 4th quarter worth approximately $77,000. Squarepoint Ops LLC increased its holdings in shares of Summit Hotel Properties by 132.9% in the 4th quarter. Squarepoint Ops LLC now owns 38,727 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 22,101 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Summit Hotel Properties by 28.3% in the fourth quarter. Two Sigma Investments LP now owns 371,666 shares of the real estate investment trust’s stock valued at $2,546,000 after purchasing an additional 81,917 shares during the period. Systematic Financial Management LP lifted its stake in shares of Summit Hotel Properties by 3.5% in the fourth quarter. Systematic Financial Management LP now owns 1,075,454 shares of the real estate investment trust’s stock valued at $7,367,000 after purchasing an additional 36,770 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Summit Hotel Properties during the fourth quarter worth about $232,000. Hedge funds and other institutional investors own 96.47% of the company’s stock.

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.