CWC Advisors LLC. Acquires New Stake in Summit Hotel Properties, Inc. (NYSE:INN)

CWC Advisors LLC. bought a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 21,108 shares of the real estate investment trust’s stock, valued at approximately $145,000.

A number of other institutional investors have also added to or reduced their stakes in INN. Fidelis Capital Partners LLC purchased a new position in shares of Summit Hotel Properties during the first quarter worth about $30,000. EntryPoint Capital LLC bought a new position in shares of Summit Hotel Properties in the 1st quarter worth $79,000. MQS Management LLC purchased a new stake in shares of Summit Hotel Properties during the 2nd quarter valued at $75,000. Quadrature Capital Ltd bought a new stake in shares of Summit Hotel Properties during the 4th quarter worth $93,000. Finally, Choreo LLC purchased a new position in Summit Hotel Properties in the second quarter worth $86,000. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Trading Down 0.8 %

NYSE INN opened at $6.22 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. The stock’s 50-day simple moving average is $6.66 and its two-hundred day simple moving average is $6.28. Summit Hotel Properties, Inc. has a twelve month low of $5.31 and a twelve month high of $7.22. The company has a market capitalization of $673.87 million, a price-to-earnings ratio of 6.49 and a beta of 2.04.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $191.05 million. Summit Hotel Properties had a net margin of 3.23% and a return on equity of 1.76%. During the same period in the prior year, the business posted $0.27 earnings per share. Research analysts forecast that Summit Hotel Properties, Inc. will post 0.87 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.08 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.14%.

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.