Fox Run Management L.L.C. Raises Stake in Summit Hotel Properties, Inc. (NYSE:INN)

Fox Run Management L.L.C. grew its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 104.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,956 shares of the real estate investment trust’s stock after acquiring an additional 15,814 shares during the quarter. Fox Run Management L.L.C.’s holdings in Summit Hotel Properties were worth $212,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INN. KLP Kapitalforvaltning AS purchased a new position in Summit Hotel Properties in the 4th quarter worth $136,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Summit Hotel Properties by 37.2% in 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 period. Globeflex Capital L P lifted its stake in shares of Summit Hotel Properties by 10.7% in the 4th quarter. Globeflex Capital L P now owns 1,017,858 shares of the real estate investment trust’s stock valued at $6,972,000 after acquiring an additional 98,174 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 valued at $1,085,000 after acquiring an additional 47,877 shares during the period. Finally, Amundi grew its position in Summit Hotel Properties by 22.4% during the 4th quarter. Amundi now owns 105,562 shares of the real estate investment trust’s stock worth $689,000 after acquiring an additional 19,317 shares during the last quarter. 96.47% of the stock is currently owned by institutional investors.

Summit Hotel Properties Stock Performance

Shares of INN stock opened at $5.39 on Friday. The company has a market capitalization of $591.94 million, a P/E ratio of 539.20, a PEG ratio of 1.54 and a beta of 2.04. Summit Hotel Properties, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $7.22. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day moving average price of $6.31 and a two-hundred day moving average price of $6.51.

Summit Hotel Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.08 per share. 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 5.93%. Summit Hotel Properties’s dividend payout ratio is currently 177.78%.

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.