Entropy Technologies LP Makes New Investment in Summit Hotel Properties, Inc. (NYSE:INN)

Entropy Technologies LP purchased a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,811 shares of the real estate investment trust’s stock, valued at approximately $88,000.

Several other hedge funds have also recently added to or reduced their stakes in INN. Indaba Capital Management L.P. bought a new position in Summit Hotel Properties during the 3rd quarter worth approximately $4,248,000. H 2 Credit Manager LP raised its holdings in Summit Hotel Properties by 43.0% during the 3rd quarter. H 2 Credit Manager LP now owns 7,167,331 shares of the real estate investment trust’s stock worth $49,168,000 after purchasing an additional 2,156,700 shares during the last quarter. Jennison Associates LLC raised its holdings in Summit Hotel Properties by 21.6% during the 4th quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust’s stock worth $45,924,000 after purchasing an additional 1,191,506 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Summit Hotel Properties by 430.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,491 shares of the real estate investment trust’s stock worth $4,881,000 after purchasing an additional 577,300 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Summit Hotel Properties in the 3rd quarter valued at $3,123,000. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

NYSE:INN opened at $6.53 on Friday. The company has a fifty day moving average of $6.73 and a 200-day moving average of $6.60. The firm has a market capitalization of $707.44 million, a P/E ratio of 652.50 and a beta of 2.02. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. Summit Hotel Properties, Inc. has a twelve month low of $5.66 and a twelve month high of $7.22.

Summit Hotel Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.08 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.32 annualized dividend and a dividend yield of 4.90%. Summit Hotel Properties’s dividend payout ratio is currently 3,200.00%.

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.