Nisa Investment Advisors LLC Sells 3,835 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Nisa Investment Advisors LLC lessened its holdings in Summit Hotel Properties, Inc. (NYSE:INN) by 4.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 85,711 shares of the real estate investment trust’s stock after selling 3,835 shares during the period. Nisa Investment Advisors LLC’s holdings in Summit Hotel Properties were worth $576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Money Concepts Capital Corp acquired a new stake in shares of Summit Hotel Properties in the 4th quarter valued at $40,000. First PREMIER Bank acquired a new stake in shares of Summit Hotel Properties in the 4th quarter valued at $42,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Summit Hotel Properties by 298.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,381 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 6,277 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at $59,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at $59,000. Institutional investors own 96.47% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wolfe Research initiated coverage on shares of Summit Hotel Properties in a research note on Wednesday, January 10th. They issued a “peer perform” rating on the stock.

Summit Hotel Properties Stock Down 2.8 %

Shares of NYSE:INN opened at $6.17 on Thursday. Summit Hotel Properties, Inc. has a 52 week low of $5.31 and a 52 week high of $7.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 0.80. The company’s fifty day moving average is $6.44 and its 200-day moving average is $6.35. The company has a market capitalization of $663.29 million, a PE ratio of -22.83 and a beta of 1.94.

Summit Hotel Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.24 annualized dividend and a yield of 3.89%. Summit Hotel Properties’s dividend payout ratio (DPR) is -88.89%.

About Summit Hotel Properties

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 November 1, 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.