Summit Hotel Properties (NYSE:INN) Hits New 12-Month Low at $6.51

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

Analyst Upgrades and Downgrades

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

Summit Hotel Properties Price Performance

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average of $7.80 and a two-hundred day moving average of $7.75.

Summit Hotel Properties Dividend Announcement

The company 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 annualized dividend and a yield of 2.49%. The ex-dividend date was Monday, February 13th. Summit Hotel Properties’s dividend payout ratio is currently -100.00%.

Hedge Funds Weigh In On Summit Hotel Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of INN. PNC Financial Services Group Inc. boosted its stake in Summit Hotel Properties by 2.6% in the first quarter. PNC Financial Services Group Inc. now owns 47,984 shares of the real estate investment trust’s stock valued at $478,000 after acquiring an additional 1,212 shares during the period. Natixis Advisors L.P. boosted its stake in Summit Hotel Properties by 6.3% in the first quarter. Natixis Advisors L.P. now owns 64,265 shares of the real estate investment trust’s stock valued at $640,000 after acquiring an additional 3,825 shares during the period. MetLife Investment Management LLC boosted its stake in Summit Hotel Properties by 100.5% in the first quarter. MetLife Investment Management LLC now owns 55,232 shares of the real estate investment trust’s stock valued at $550,000 after acquiring an additional 27,683 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Summit Hotel Properties by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 91,771 shares of the real estate investment trust’s stock valued at $914,000 after acquiring an additional 11,315 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Summit Hotel Properties by 1.7% in the first quarter. Great West Life Assurance Co. Can now owns 177,186 shares of the real estate investment trust’s stock valued at $1,820,000 after acquiring an additional 2,913 shares during the period. 96.59% of the stock is currently owned by institutional investors and hedge funds.

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.