Strs Ohio Has $3.49 Million Stock Holdings in Summit Hotel Properties Inc (NYSE:INN)

Strs Ohio cut its stake in Summit Hotel Properties Inc (NYSE:INN) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 304,292 shares of the real estate investment trust’s stock after selling 8,691 shares during the quarter. Strs Ohio owned approximately 0.29% of Summit Hotel Properties worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of INN. Versant Capital Management Inc increased its stake in shares of Summit Hotel Properties by 3,492.5% in the first quarter. Versant Capital Management Inc now owns 3,341 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 3,248 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Summit Hotel Properties by 33.3% in the first quarter. SG Americas Securities LLC now owns 14,216 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 3,554 shares during the last quarter. CWM Advisors LLC increased its stake in shares of Summit Hotel Properties by 8.5% in the second quarter. CWM Advisors LLC now owns 14,840 shares of the real estate investment trust’s stock worth $170,000 after acquiring an additional 1,160 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Summit Hotel Properties by 7.9% in the second quarter. Crossmark Global Holdings Inc. now owns 15,970 shares of the real estate investment trust’s stock worth $183,000 after acquiring an additional 1,170 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its position in Summit Hotel Properties by 53.4% during the first quarter. Pictet Asset Management Ltd. now owns 18,100 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 6,300 shares during the last quarter. 99.87% of the stock is currently owned by institutional investors and hedge funds.

Summit Hotel Properties stock opened at $11.44 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $1.21 billion, a P/E ratio of 8.65 and a beta of 1.22. Summit Hotel Properties Inc has a one year low of $9.29 and a one year high of $14.09. The stock’s fifty day simple moving average is $11.44.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.09. Summit Hotel Properties had a net margin of 18.95% and a return on equity of 8.82%. The firm had revenue of $142.93 million for the quarter, compared to the consensus estimate of $141.05 million. During the same period in the prior year, the business posted $0.40 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts forecast that Summit Hotel Properties Inc will post 1.2 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date of this dividend is Thursday, August 15th. Summit Hotel Properties’s dividend payout ratio (DPR) is 53.33%.

Several equities analysts have commented on the stock. TheStreet raised shares of Summit Hotel Properties from a “c” rating to a “b-” rating in a research report on Friday, May 3rd. Zacks Investment Research raised shares of Summit Hotel Properties from a “sell” rating to a “hold” rating and set a $13.00 target price on the stock in a research report on Saturday, July 20th. Deutsche Bank reissued a “buy” rating and set a $14.00 target price on shares of Summit Hotel Properties in a research report on Sunday, April 21st. ValuEngine downgraded shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Capital One Financial assumed coverage on shares of Summit Hotel Properties in a research report on Tuesday, June 25th. They set an “equal weight” rating and a $13.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $13.40.

Summit Hotel Properties Profile

Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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

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