Jacobs Levy Equity Management Inc. Takes $1.54 Million Position in Summit Hotel Properties, Inc. $INN

Jacobs Levy Equity Management Inc. acquired a new stake in Summit Hotel Properties, Inc. (NYSE:INN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 284,819 shares of the real estate investment trust’s stock, valued at approximately $1,541,000. Jacobs Levy Equity Management Inc. owned 0.25% of Summit Hotel Properties at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Summit Hotel Properties by 453.0% in the first quarter. GAMMA Investing LLC now owns 8,218 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 6,732 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Summit Hotel Properties in the fourth quarter valued at approximately $77,000. Teacher Retirement System of Texas acquired a new position in shares of Summit Hotel Properties in the first quarter valued at approximately $86,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Summit Hotel Properties by 57.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,221 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 8,123 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Summit Hotel Properties by 58,040.9% during the 1st quarter. Farther Finance Advisors LLC now owns 25,582 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 25,538 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INN. Bank of America increased their target price on shares of Summit Hotel Properties from $5.00 to $5.75 and gave the company a “neutral” rating in a research report on Monday, July 21st. Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Zacks Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $5.75.

Summit Hotel Properties Stock Performance

Shares of INN stock opened at $5.64 on Thursday. The company has a market cap of $613.14 million, a price-to-earnings ratio of -62.61 and a beta of 1.72. 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 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $5.39 and a 200-day moving average of $5.03.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $192.92 million during the quarter, compared to the consensus estimate of $194.49 million. Summit Hotel Properties had a net margin of 1.00% and a return on equity of 0.56%. Summit Hotel Properties has set its FY 2025 guidance at 0.900-0.900 EPS. On average, equities analysts forecast that Summit Hotel Properties, Inc. will post 0.88 earnings per share for the current year.

Summit Hotel Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 annualized dividend and a dividend yield of 5.7%. Summit Hotel Properties’s dividend payout ratio (DPR) is -355.56%.

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.