Summit Hotel Properties, Inc. (NYSE:INN) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in Summit Hotel Properties, Inc. (NYSE:INN) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,565,835 shares of the real estate investment trust’s stock after purchasing an additional 53,327 shares during the period. Charles Schwab Investment Management Inc. owned 1.44% of Summit Hotel Properties worth $10,742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Summit Hotel Properties by 8.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,781 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 5,036 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Summit Hotel Properties in the second quarter worth $604,000. Allegheny Financial Group LTD increased its holdings in shares of Summit Hotel Properties by 9.1% during the second quarter. Allegheny Financial Group LTD now owns 251,718 shares of the real estate investment trust’s stock valued at $1,508,000 after purchasing an additional 20,922 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Summit Hotel Properties by 1.1% during the second quarter. Victory Capital Management Inc. now owns 2,415,216 shares of the real estate investment trust’s stock valued at $14,467,000 after purchasing an additional 26,342 shares during the period. Finally, Choreo LLC bought a new stake in shares of Summit Hotel Properties during the second quarter valued at about $86,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

INN opened at $6.83 on Tuesday. The business has a 50 day moving average price of $6.50 and a two-hundred day moving average price of $6.33. The company has a market capitalization of $739.97 million, a price-to-earnings ratio of 682.50 and a beta of 2.05. Summit Hotel Properties, Inc. has a 1-year low of $5.66 and a 1-year high of $7.22. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.78 and a quick ratio of 0.78.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.22). Summit Hotel Properties had a return on equity of 1.87% and a net margin of 3.41%. The business had revenue of $176.81 million during the quarter, compared to analyst estimates of $176.24 million. During the same period in the prior year, the firm earned $0.22 EPS. Research analysts predict that Summit Hotel Properties, Inc. will post 0.89 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.08 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.69%. Summit Hotel Properties’s dividend payout ratio (DPR) is 3,200.00%.

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.