Summit Hotel Properties, Inc. (NYSE:INN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,711 shares of the real estate investment trust’s stock after selling 3,835 shares during the period. Nisa Investment Advisors LLC owned approximately 0.08% of Summit Hotel Properties worth $576,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. First PREMIER Bank acquired a new position in Summit Hotel Properties during the 4th quarter valued at about $42,000. Public Employees Retirement System of Ohio grew its stake in shares of Summit Hotel Properties by 5.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 154,353 shares of the real estate investment trust’s stock worth $895,000 after purchasing an additional 8,663 shares during the last quarter. Comerica Bank acquired a new position in shares of Summit Hotel Properties in the 3rd quarter worth approximately $364,000. Royal Bank of Canada grew its stake in shares of Summit Hotel Properties by 3.5% in the 3rd quarter. Royal Bank of Canada now owns 761,958 shares of the real estate investment trust’s stock worth $4,418,000 after purchasing an additional 25,981 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in shares of Summit Hotel Properties in the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research began coverage on shares of Summit Hotel Properties in a research note on Wednesday, January 10th. They issued a “peer perform” rating on the stock.

Summit Hotel Properties Stock Performance

Shares of INN opened at $6.17 on Thursday. The firm’s 50 day moving average is $6.44 and its 200-day moving average is $6.35. The stock has a market capitalization of $663.29 million, a P/E ratio of -22.83 and a beta of 1.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.80 and a quick ratio of 0.80. Summit Hotel Properties, Inc. has a 12-month low of $5.31 and a 12-month high of $7.26.

Summit Hotel Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Wednesday, February 14th. Summit Hotel Properties’s payout ratio is -88.89%.

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.