Summit Hotel Properties (NYSE:INN) Reaches New 52-Week Low at $6.51

Summit Hotel Properties, Inc. (NYSE:INN – Get Rating)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $6.51 and last traded at $6.52, with a volume of 528056 shares traded. The stock had previously closed at $6.93.

Analyst Ratings Changes

Separately, Robert W. Baird cut shares of Summit Hotel Properties from an “outperform” rating to a “neutral” rating in a report on Thursday, January 12th.

Summit Hotel Properties Price Performance

The stock’s fifty day moving average is $7.80 and its 200-day moving average is $7.75. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.03.

Summit Hotel Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Monday, February 13th. Summit Hotel Properties’s dividend payout ratio is presently -100.00%.

Institutional Investors Weigh In On Summit Hotel Properties

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Summit Hotel Properties by 3.9% during the first quarter. Vanguard Group Inc. now owns 15,777,812 shares of the real estate investment trust’s stock valued at $157,148,000 after acquiring an additional 599,123 shares during the period. State Street Corp boosted its holdings in Summit Hotel Properties by 0.6% during the second quarter. State Street Corp now owns 6,982,325 shares of the real estate investment trust’s stock valued at $50,762,000 after acquiring an additional 42,653 shares during the period. Jennison Associates LLC boosted its holdings in Summit Hotel Properties by 0.6% during the fourth quarter. Jennison Associates LLC now owns 6,734,898 shares of the real estate investment trust’s stock valued at $48,626,000 after acquiring an additional 38,086 shares during the period. Geode Capital Management LLC boosted its holdings in Summit Hotel Properties by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 2,190,065 shares of the real estate investment trust’s stock valued at $15,812,000 after acquiring an additional 78,077 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Summit Hotel Properties by 5.0% during the third quarter. Victory Capital Management Inc. now owns 2,171,972 shares of the real estate investment trust’s stock valued at $14,596,000 after acquiring an additional 102,719 shares during the period. 96.59% of the stock is currently owned by institutional investors.

About Summit Hotel Properties

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Summit Hotel Properties, Inc is a real estate investment trust, which operates as a self-managed hotel investment company. It focuses on owning premium-branded select-service hotels. Its hotels are located in corporate offices, retail centers, airports, state capitols, convention centers, universities, and leisure attractions.