Nomura Asset Management Co. Ltd. Purchases 4,400 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Nomura Asset Management Co. Ltd. boosted its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,200 shares of the real estate investment trust’s stock after purchasing an additional 4,400 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.13% of Summit Hotel Properties worth $947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC grew its stake in shares of Summit Hotel Properties by 123.2% during the fourth quarter. Wolverine Asset Management LLC now owns 6,400 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 34,000 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in Summit Hotel Properties during the 3rd quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. grew its position in Summit Hotel Properties by 193.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,147 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 8,006 shares during the last quarter. Ieq Capital LLC purchased a new stake in Summit Hotel Properties in the fourth quarter worth $87,000. Finally, Entropy Technologies LP purchased a new stake in Summit Hotel Properties in the fourth quarter worth $88,000. 96.47% of the stock is owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Up 0.7 %

Shares of INN opened at $5.48 on Thursday. The firm has a fifty day moving average price of $6.24 and a 200-day moving average price of $6.49. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $601.61 million, a P/E ratio of 548.00, a P/E/G ratio of 1.54 and a beta of 2.04. Summit Hotel Properties, Inc. has a 12-month low of $5.28 and a 12-month high of $7.22.

Summit Hotel Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.08 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.32 dividend on an annualized basis and a yield of 5.84%. Summit Hotel Properties’s dividend payout ratio is currently 177.78%.

About Summit Hotel Properties

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.