Summit Hotel Properties, Inc. $INN Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC raised its position in Summit Hotel Properties, Inc. (NYSE:INN) by 10.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 28,195 shares of the real estate investment trust’s stock after acquiring an additional 2,613 shares during the quarter. Farther Finance Advisors LLC’s holdings in Summit Hotel Properties were worth $144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in INN. Squarepoint Ops LLC raised its holdings in shares of Summit Hotel Properties by 132.9% in the fourth quarter. Squarepoint Ops LLC now owns 38,727 shares of the real estate investment trust’s stock worth $265,000 after buying an additional 22,101 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Summit Hotel Properties in the fourth quarter worth $77,000. GAMMA Investing LLC raised its holdings 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 worth $44,000 after buying an additional 6,732 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Summit Hotel Properties by 191.1% in the first quarter. SG Americas Securities LLC now owns 62,549 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 41,062 shares during the last quarter. Finally, CWC Advisors LLC. raised its holdings in shares of Summit Hotel Properties by 31.5% in the first quarter. CWC Advisors LLC. now owns 27,307 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 6,544 shares during the last quarter. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Trading Down 0.1%

NYSE INN opened at $5.53 on Friday. The company has a market capitalization of $601.17 million, a PE ratio of -61.39 and a beta of 1.70. The company has a fifty day moving average of $5.47 and a 200 day moving average of $4.97. Summit Hotel Properties, Inc. has a 1 year low of $3.57 and a 1 year high of $7.22. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80.

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

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.32 dividend on an annualized basis and a yield of 5.8%. Summit Hotel Properties’s payout ratio is presently -355.56%.

Wall Street Analysts Forecast Growth

INN has been the subject of a number of research analyst reports. Bank of America raised their price target on shares of Summit Hotel Properties from $5.00 to $5.75 and gave the stock a “neutral” rating in a report on Monday, July 21st. Zacks Research cut shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $5.75.

About Summit Hotel Properties

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.