Summit Hotel Properties Inc (INN) Shares Bought by Heitman Real Estate Securities LLC
Heitman Real Estate Securities LLC increased its position in Summit Hotel Properties Inc (NYSE:INN) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,157,272 shares of the real estate investment trust’s stock after acquiring an additional 130,040 shares during the period. Summit Hotel Properties makes up about 1.9% of Heitman Real Estate Securities LLC’s portfolio, making the stock its 22nd biggest holding. Heitman Real Estate Securities LLC’s holdings in Summit Hotel Properties were worth $32,855,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new position in Summit Hotel Properties in the 3rd quarter worth $177,000. M&T Bank Corp acquired a new stake in Summit Hotel Properties during the 4th quarter worth about $215,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Summit Hotel Properties during the 2nd quarter worth about $235,000. Accident Compensation Corp acquired a new stake in Summit Hotel Properties during the 4th quarter worth about $350,000. Finally, Hartford Investment Management Co. acquired a new stake in Summit Hotel Properties during the 3rd quarter worth about $358,000. Institutional investors own 97.63% of the company’s stock.
Shares of Summit Hotel Properties Inc (NYSE INN) opened at $13.27 on Friday. Summit Hotel Properties Inc has a 12-month low of $12.77 and a 12-month high of $19.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $1,384.42, a PE ratio of 9.98, a PEG ratio of 4.73 and a beta of 1.31.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Friday, February 16th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Summit Hotel Properties’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.43%. Summit Hotel Properties’s dividend payout ratio (DPR) is 90.00%.
INN has been the topic of several analyst reports. Zacks Investment Research raised Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $17.00 price target on shares of Summit Hotel Properties in a research report on Monday, November 20th. Janney Montgomery Scott downgraded Summit Hotel Properties from a “buy” rating to a “neutral” rating in a research report on Monday, November 20th. Royal Bank of Canada reaffirmed a “buy” rating and set a $16.00 price target on shares of Summit Hotel Properties in a research report on Tuesday, February 27th. Finally, Robert W. Baird set a $16.00 price target on Summit Hotel Properties and gave the stock a “buy” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $16.83.
Summit Hotel Properties Company Profile
Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 83 hotels with a total of 12,242 guestrooms located in 26 states.
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