Charles Schwab Investment Management Inc. Has $10 Million Stake in Summit Hotel Properties, Inc. $INN

Charles Schwab Investment Management Inc. raised its position in Summit Hotel Properties, Inc. (NYSE:INN) by 16.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,848,480 shares of the real estate investment trust’s stock after buying an additional 257,720 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.65% of Summit Hotel Properties worth $10,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Summit Hotel Properties by 3.6% during the 4th quarter. Invesco Ltd. now owns 448,435 shares of the real estate investment trust’s stock worth $3,072,000 after acquiring an additional 15,651 shares in the last quarter. Renaissance Technologies LLC raised its position in Summit Hotel Properties by 41.2% during the fourth quarter. Renaissance Technologies LLC now owns 45,900 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 13,400 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Summit Hotel Properties by 4.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 238,703 shares of the real estate investment trust’s stock valued at $1,635,000 after purchasing an additional 10,512 shares in the last quarter. First Trust Advisors LP lifted its stake in Summit Hotel Properties by 44.3% during the fourth quarter. First Trust Advisors LP now owns 24,339 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 7,468 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of Summit Hotel Properties by 10.2% in the 4th quarter. MetLife Investment Management LLC now owns 62,879 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 5,845 shares in the last quarter. 96.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INN has been the topic of several recent analyst reports. Wall Street Zen upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Bank of America raised their price objective on Summit Hotel Properties from $5.00 to $5.75 and gave the company a “neutral” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.75.

Summit Hotel Properties Stock Up 6.8%

Shares of NYSE:INN opened at $5.4050 on Monday. The company has a fifty day moving average of $5.26 and a 200-day moving average of $5.10. The company has a market capitalization of $588.12 million, a PE ratio of -60.06 and a beta of 1.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. Summit Hotel Properties, Inc. has a 52-week low of $3.57 and a 52-week high of $7.22.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $192.92 million for the quarter, compared to the consensus estimate of $194.49 million. Summit Hotel Properties had a return on equity of 0.56% and a net margin of 1.00%. Summit Hotel Properties has set its FY 2025 guidance at 0.900-0.900 EPS. On average, equities analysts predict that Summit Hotel Properties, Inc. will post 0.88 EPS for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, August 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently -355.56%.

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.