Yousif Capital Management LLC Sells 3,044 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Yousif Capital Management LLC decreased its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,317 shares of the real estate investment trust’s stock after selling 3,044 shares during the quarter. Yousif Capital Management LLC owned about 0.05% of Summit Hotel Properties worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its position in shares of Summit Hotel Properties by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 47,984 shares of the real estate investment trust’s stock worth $478,000 after buying an additional 1,212 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Summit Hotel Properties by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 59,949 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 1,609 shares during the period. Ensign Peak Advisors Inc grew its position in shares of Summit Hotel Properties by 2.2% during the 1st quarter. Ensign Peak Advisors Inc now owns 89,800 shares of the real estate investment trust’s stock worth $629,000 after buying an additional 1,950 shares during the period. Brinker Capital Investments LLC grew its position in shares of Summit Hotel Properties by 1.2% during the 1st quarter. Brinker Capital Investments LLC now owns 177,115 shares of the real estate investment trust’s stock worth $1,764,000 after buying an additional 2,113 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Summit Hotel Properties by 2.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 88,856 shares of the real estate investment trust’s stock worth $622,000 after buying an additional 2,160 shares during the period. Institutional investors and hedge funds own 95.06% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of INN stock opened at $5.91 on Friday. The firm has a 50 day moving average of $5.79 and a 200-day moving average of $6.16. Summit Hotel Properties, Inc. has a 52 week low of $5.31 and a 52 week high of $8.81. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.04. The company has a market cap of $635.80 million, a price-to-earnings ratio of -26.86, a price-to-earnings-growth ratio of 0.22 and a beta of 1.94.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, November 15th. Summit Hotel Properties’s payout ratio is currently -109.09%.

Summit Hotel Properties Company 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.