Orion Portfolio Solutions LLC Lowers Stake in Summit Hotel Properties, Inc. (NYSE:INN)

Orion Portfolio Solutions LLC trimmed its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,495 shares of the real estate investment trust’s stock after selling 5,496 shares during the period. Orion Portfolio Solutions LLC owned about 0.05% of Summit Hotel Properties worth $380,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wolverine Asset Management LLC lifted its stake in shares of Summit Hotel Properties by 123.2% in the 4th quarter. Wolverine Asset Management LLC now owns 6,400 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 34,000 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in Summit Hotel Properties during the third quarter valued at $57,000. Ieq Capital LLC purchased a new position in Summit Hotel Properties during the 4th quarter valued at about $87,000. Entropy Technologies LP purchased a new position in shares of Summit Hotel Properties during the fourth quarter valued at approximately $88,000. Finally, Tidal Investments LLC bought a new stake in Summit Hotel Properties in the third quarter worth $91,000. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Performance

Shares of INN stock opened at $3.75 on Wednesday. The company’s 50-day moving average is $5.97 and its 200 day moving average is $6.39. The company has a market capitalization of $417.13 million, a price-to-earnings ratio of 374.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.78. Summit Hotel Properties, Inc. has a one year low of $3.70 and a one year high of $7.22. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.78.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 annualized dividend and a yield of 8.54%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 177.78%.

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.