Summit Hotel Properties, Inc. $INN Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in Summit Hotel Properties, Inc. (NYSE:INN) by 21.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,793 shares of the real estate investment trust’s stock after selling 19,342 shares during the period. Nisa Investment Advisors LLC owned approximately 0.06% of Summit Hotel Properties worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Summit Hotel Properties by 36.4% in the second quarter. Signaturefd LLC now owns 8,656 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 2,309 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Summit Hotel Properties by 4.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 2,528 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Summit Hotel Properties by 10.2% during the second quarter. Farther Finance Advisors LLC now owns 28,195 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 2,613 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Summit Hotel Properties by 1.7% during the first quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock worth $896,000 after purchasing an additional 2,793 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Summit Hotel Properties by 1.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 161,182 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 2,815 shares during the last quarter. 96.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of Summit Hotel Properties in a report on Tuesday, October 14th. Zacks Research raised shares of Summit Hotel Properties from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 21st. Robert W. Baird reduced their target price on shares of Summit Hotel Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, October 3rd. Finally, Bank of America raised their target price on shares of Summit Hotel Properties from $5.00 to $5.75 and gave the stock a “neutral” rating in a report on Monday, July 21st. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Summit Hotel Properties currently has an average rating of “Reduce” and an average target price of $5.13.

Summit Hotel Properties Stock Down 1.2%

Shares of NYSE INN opened at $5.16 on Monday. The company’s 50-day simple moving average is $5.51 and its 200-day simple moving average is $5.06. Summit Hotel Properties, Inc. has a 52-week low of $3.57 and a 52-week high of $6.99. The firm has a market cap of $560.91 million, a price-to-earnings ratio of -57.28 and a beta of 1.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11.

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

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 14th. This represents a $0.32 dividend on an annualized basis and a yield of 6.2%. Summit Hotel Properties’s payout ratio is presently -355.56%.

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.