Sumitomo Mitsui Trust Holdings Inc. Has $855,000 Position in Summit Hotel Properties, Inc. (NYSE:INN)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 10.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 127,211 shares of the real estate investment trust’s stock after purchasing an additional 11,625 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Summit Hotel Properties were worth $855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. First PREMIER Bank acquired a new position in shares of Summit Hotel Properties during the fourth quarter worth about $42,000. Allspring Global Investments Holdings LLC boosted its position in shares of Summit Hotel Properties by 298.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,381 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 6,277 shares during the period. Sherbrooke Park Advisers LLC acquired a new position in shares of Summit Hotel Properties during the third quarter worth about $59,000. Envestnet Portfolio Solutions Inc. acquired a new position in Summit Hotel Properties during the third quarter valued at approximately $59,000. Finally, Caxton Associates LP acquired a new position in Summit Hotel Properties during the third quarter valued at approximately $67,000. 96.47% of the stock is owned by institutional investors and hedge funds.

Summit Hotel Properties Stock Performance

Shares of NYSE INN opened at $6.07 on Friday. The stock has a 50 day moving average price of $6.42 and a 200 day moving average price of $6.37. 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 stock has a market capitalization of $652.53 million, a PE ratio of -22.46 and a beta of 1.94.

Analysts Set New Price Targets

Separately, Wolfe Research started coverage on Summit Hotel Properties in a research report on Wednesday, January 10th. They set a “peer perform” rating for the company.

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 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.