California State Teachers Retirement System reduced its stake in Summit Hotel Properties, Inc. (NYSE:INN – Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 132,858 shares of the real estate investment trust’s stock after selling 1,943 shares during the period. California State Teachers Retirement System owned about 0.12% of Summit Hotel Properties worth $930,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Money Concepts Capital Corp acquired a new stake in Summit Hotel Properties in the fourth quarter valued at approximately $40,000. Evergreen Capital Management LLC acquired a new stake in shares of Summit Hotel Properties during the 4th quarter valued at $74,000. Van ECK Associates Corp boosted its holdings in shares of Summit Hotel Properties by 79.9% during the 4th quarter. Van ECK Associates Corp now owns 10,862 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 4,824 shares in the last quarter. Captrust Financial Advisors bought a new stake in Summit Hotel Properties during the 2nd quarter worth $90,000. Finally, Jefferies Financial Group Inc. acquired a new position in Summit Hotel Properties in the 4th quarter worth about $92,000. 95.06% of the stock is owned by institutional investors.
Summit Hotel Properties Price Performance
Summit Hotel Properties stock opened at $5.81 on Friday. The company has a market capitalization of $625.02 million, a PE ratio of -34.18, a P/E/G ratio of 1.82 and a beta of 1.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.03. The stock has a 50-day moving average price of $6.11 and a two-hundred day moving average price of $6.61. Summit Hotel Properties, Inc. has a 12 month low of $5.42 and a 12 month high of $8.81.
Summit Hotel Properties Announces Dividend
Summit Hotel Properties Profile
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 August 2, 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.
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