Gamco Investors INC. ET AL Sells 400,000 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Gamco Investors INC. ET AL decreased its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 96.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,500 shares of the real estate investment trust’s stock after selling 400,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Summit Hotel Properties were worth $92,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INN. Wolverine Asset Management LLC lifted its holdings in Summit Hotel Properties by 123.2% in the fourth quarter. Wolverine Asset Management LLC now owns 6,400 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 34,000 shares during the period. Ieq Capital LLC purchased a new position in shares of Summit Hotel Properties in the 4th quarter valued at approximately $87,000. Entropy Technologies LP purchased a new position in shares of Summit Hotel Properties in the 4th quarter valued at approximately $88,000. Tidal Investments LLC bought a new stake in shares of Summit Hotel Properties during the third quarter valued at approximately $91,000. Finally, Van ECK Associates Corp raised its holdings in Summit Hotel Properties by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 19,879 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 1,842 shares in the last quarter. Hedge funds and other institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of Summit Hotel Properties stock opened at $3.92 on Friday. The business has a fifty day simple moving average of $5.49 and a two-hundred day simple moving average of $6.22. The firm has a market capitalization of $436.84 million, a P/E ratio of 392.20, a P/E/G ratio of 1.54 and a beta of 1.78. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.01. Summit Hotel Properties, Inc. has a 12 month low of $3.57 and a 12 month high of $7.22.

Summit Hotel Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date was Friday, February 14th. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 177.78%.

Summit Hotel Properties 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.