Wipfli Financial Advisors LLC acquired a new stake in shares of Summit Hotel Properties, Inc. (NYSE:INN – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,830 shares of the real estate investment trust’s stock, valued at approximately $26,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Isthmus Partners LLC boosted its holdings in shares of Summit Hotel Properties by 3.6% during the 2nd quarter. Isthmus Partners LLC now owns 102,931 shares of the real estate investment trust’s stock valued at $748,000 after purchasing an additional 3,606 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Summit Hotel Properties by 10.0% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 19,483 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 1,776 shares during the last quarter. 1492 Capital Management LLC lifted its holdings in shares of Summit Hotel Properties by 26.7% in the 2nd quarter. 1492 Capital Management LLC now owns 25,121 shares of the real estate investment trust’s stock valued at $183,000 after acquiring an additional 5,297 shares during the last quarter. Keybank National Association OH bought a new position in shares of Summit Hotel Properties in the 2nd quarter valued at about $303,000. Finally, MQS Management LLC lifted its holdings in shares of Summit Hotel Properties by 39.8% in the 2nd quarter. MQS Management LLC now owns 43,724 shares of the real estate investment trust’s stock valued at $318,000 after acquiring an additional 12,453 shares during the last quarter. Institutional investors own 96.59% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. Robert W. Baird downgraded shares of Summit Hotel Properties from an “outperform” rating to a “neutral” rating in a report on Thursday, January 12th. TheStreet raised shares of Summit Hotel Properties from a “d+” rating to a “c-” rating in a report on Tuesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Summit Hotel Properties from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, October 25th.
Insider Buying and Selling
Summit Hotel Properties Stock Performance
Summit Hotel Properties stock opened at $7.79 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.14 and a quick ratio of 1.14. Summit Hotel Properties, Inc. has a 1-year low of $6.57 and a 1-year high of $10.58. The firm has a market capitalization of $832.72 million, a P/E ratio of -38.95, a price-to-earnings-growth ratio of 0.14 and a beta of 1.96. The company’s 50-day moving average is $7.77 and its 200 day moving average is $7.79.
Summit Hotel Properties Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Tuesday, November 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is currently -80.00%.
About Summit Hotel Properties
Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of November 3, 2020, the Company's portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guestrooms located in 23 states.
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