Summit Hotel Properties, Inc. (NYSE:INN) Stock Holdings Lessened by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 95.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 823,254 shares of the real estate investment trust’s stock after selling 17,068,828 shares during the period. Bank of Montreal Can owned 0.76% of Summit Hotel Properties worth $5,639,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of Summit Hotel Properties by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 19,879 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,842 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Summit Hotel Properties by 10.2% in the fourth 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 last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Summit Hotel Properties by 3.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 138,200 shares of the real estate investment trust’s stock valued at $947,000 after acquiring an additional 4,400 shares during the period. abrdn plc grew its position 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 during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Summit Hotel Properties by 28.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,425 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 6,661 shares during the period. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Trading Down 1.0 %

Summit Hotel Properties stock opened at $4.03 on Tuesday. Summit Hotel Properties, Inc. has a 52-week low of $3.57 and a 52-week high of $7.22. 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 market capitalization of $448.87 million, a price-to-earnings ratio of 403.00, a PEG ratio of 1.54 and a beta of 1.78. The firm has a 50-day moving average price of $5.72 and a two-hundred day moving average price of $6.30.

Summit Hotel Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date was Friday, February 14th. Summit Hotel Properties’s dividend payout ratio (DPR) is 177.78%.

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.