WINTON GROUP Ltd Sells 20,666 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

WINTON GROUP Ltd decreased its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 28.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,610 shares of the real estate investment trust’s stock after selling 20,666 shares during the period. WINTON GROUP Ltd’s holdings in Summit Hotel Properties were worth $491,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of INN. GW&K Investment Management LLC grew its holdings in Summit Hotel Properties by 10.5% during the first quarter. GW&K Investment Management LLC now owns 3,303,531 shares of the real estate investment trust’s stock valued at $33,563,000 after purchasing an additional 313,574 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Summit Hotel Properties by 27.3% in the first quarter. Nuveen Asset Management LLC now owns 3,286,754 shares of the real estate investment trust’s stock valued at $33,393,000 after acquiring an additional 705,607 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Summit Hotel Properties by 10.4% in the first quarter. Westwood Holdings Group Inc. now owns 2,681,964 shares of the real estate investment trust’s stock worth $27,249,000 after buying an additional 252,156 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Summit Hotel Properties by 8.1% in the first quarter. Geode Capital Management LLC now owns 2,070,692 shares of the real estate investment trust’s stock worth $21,038,000 after buying an additional 155,907 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Summit Hotel Properties by 130.6% in the first quarter. Jennison Associates LLC now owns 2,044,409 shares of the real estate investment trust’s stock worth $20,771,000 after buying an additional 1,157,678 shares in the last quarter. Institutional investors and hedge funds own 95.84% of the company’s stock.

INN has been the topic of a number of recent research reports. Zacks Investment Research upgraded Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, June 29th. Robert W. Baird reissued a “buy” rating and issued a $12.00 price objective on shares of Summit Hotel Properties in a research note on Thursday, August 5th. Finally, Raymond James dropped their price objective on Summit Hotel Properties from $11.50 to $10.50 and set an “outperform” rating on the stock in a research note on Friday, August 13th.

In other news, Chairman Daniel P. Hansen sold 350,000 shares of the business’s stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $9.03, for a total transaction of $3,160,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Craig J. Aniszewski sold 28,119 shares of the firm’s stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $9.12, for a total value of $256,445.28. Following the completion of the sale, the chief operating officer now owns 503,419 shares in the company, valued at $4,591,181.28. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Shares of NYSE INN opened at $9.23 on Tuesday. The business’s 50 day moving average price is $9.04 and its 200 day moving average price is $9.64. The firm has a market cap of $982.50 million, a P/E ratio of -6.74 and a beta of 2.41. Summit Hotel Properties, Inc. has a 52 week low of $4.72 and a 52 week high of $11.32. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.01.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Tuesday, August 3rd. The real estate investment trust reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.04. Summit Hotel Properties had a negative return on equity of 12.12% and a negative net margin of 52.10%. As a group, research analysts expect that Summit Hotel Properties, Inc. will post 0.15 earnings per share for the current year.

Summit Hotel Properties Company Profile

Summit Hotel Properties, Inc is a real estate investment trust, which operates as a self-managed hotel investment company. It focuses on owning premium-branded select-service hotels. Its hotels are located in corporate offices and headquarters, retail centers, airports, state capitols, convention centers, universities, and leisure attractions.

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Institutional Ownership by Quarter for Summit Hotel Properties (NYSE:INN)

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