KLP Kapitalforvaltning AS Purchases Shares of 19,900 Summit Hotel Properties, Inc. (NYSE:INN)

KLP Kapitalforvaltning AS acquired a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,900 shares of the real estate investment trust’s stock, valued at approximately $136,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Summit Hotel Properties by 37.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,085 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 15,493 shares during the last quarter. Globeflex Capital L P boosted its stake in shares of Summit Hotel Properties by 10.7% during the 4th quarter. Globeflex Capital L P now owns 1,017,858 shares of the real estate investment trust’s stock worth $6,972,000 after acquiring an additional 98,174 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Summit Hotel Properties by 43.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 158,367 shares of the real estate investment trust’s stock worth $1,085,000 after acquiring an additional 47,877 shares during the last quarter. Amundi raised its stake in Summit Hotel Properties by 22.4% in the 4th quarter. Amundi now owns 105,562 shares of the real estate investment trust’s stock valued at $689,000 after acquiring an additional 19,317 shares during the period. Finally, Inceptionr LLC lifted its holdings in Summit Hotel Properties by 34.4% during the 4th quarter. Inceptionr LLC now owns 38,727 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 9,921 shares during the last quarter. 96.47% of the stock is owned by institutional investors.

Summit Hotel Properties Price Performance

NYSE:INN opened at $4.32 on Thursday. The company has a market cap of $481.17 million, a P/E ratio of 432.00, a P/E/G ratio of 1.54 and a beta of 1.78. The firm’s fifty day moving average price is $5.87 and its two-hundred day moving average price is $6.36. Summit Hotel Properties, Inc. has a one year low of $3.57 and a one 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 7.41%. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 177.78%.

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 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.