Summit Hotel Properties, Inc. (NYSE:INN) Short Interest Update

Summit Hotel Properties, Inc. (NYSE:INN) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 5,150,000 shares, a growth of 32.7% from the August 15th total of 3,880,000 shares. Based on an average daily volume of 799,800 shares, the short-interest ratio is presently 6.4 days. Currently, 4.9% of the company’s shares are short sold.

Institutional Trading of Summit Hotel Properties

Several large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its holdings in shares of Summit Hotel Properties by 103.1% in the 4th quarter. Quadrant Capital Group LLC now owns 4,835 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 2,454 shares during the period. Daiwa Securities Group Inc. grew its position in Summit Hotel Properties by 8.9% during the first quarter. Daiwa Securities Group Inc. now owns 34,996 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 2,874 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Summit Hotel Properties by 1.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 236,446 shares of the real estate investment trust’s stock valued at $1,537,000 after buying an additional 3,540 shares during the period. BNP Paribas Financial Markets increased its stake in Summit Hotel Properties by 6.7% in the 4th quarter. BNP Paribas Financial Markets now owns 59,523 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 3,750 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in Summit Hotel Properties in the 1st quarter worth approximately $30,000. 96.47% of the stock is owned by institutional investors and hedge funds.

Summit Hotel Properties Trading Down 0.5 %

Shares of NYSE INN traded down $0.03 during mid-day trading on Monday, hitting $6.42. 484,766 shares of the company traded hands, compared to its average volume of 735,283. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.99. Summit Hotel Properties has a 1 year low of $5.31 and a 1 year high of $6.98. The stock has a market capitalization of $694.59 million, a price-to-earnings ratio of -26.75 and a beta of 2.04. The business has a 50 day moving average of $6.32 and a two-hundred day moving average of $6.22.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $191.05 million. Summit Hotel Properties had a net margin of 3.23% and a return on equity of 1.76%. During the same period in the prior year, the company posted $0.27 earnings per share. On average, sell-side analysts anticipate that Summit Hotel Properties will post 0.89 earnings per share for the current fiscal year.

Summit Hotel Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend was Friday, August 16th. Summit Hotel Properties’s dividend payout ratio is -133.33%.

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.