Mitsubishi UFJ Asset Management Co. Ltd. Makes New $590,000 Investment in Summit Hotel Properties, Inc. $INN

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Summit Hotel Properties, Inc. (NYSE:INN) in the 2nd quarter, Holdings Channel reports. The firm purchased 84,157 shares of the real estate investment trust’s stock, valued at approximately $590,000.

A number of other institutional investors and hedge funds also recently modified their holdings of INN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Summit Hotel Properties by 4.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,254 shares of the real estate investment trust’s stock valued at $337,000 after acquiring an additional 2,528 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Summit Hotel Properties by 1.7% in the first quarter. Jane Street Group LLC now owns 165,679 shares of the real estate investment trust’s stock worth $896,000 after acquiring an additional 2,793 shares during the last quarter. Amundi boosted its position in shares of Summit Hotel Properties by 19.9% in the third quarter. Amundi now owns 18,320 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 3,040 shares during the last quarter. Resona Asset Management Co. Ltd. grew its holdings in Summit Hotel Properties by 7.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 48,128 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 3,261 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Summit Hotel Properties by 22.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,917 shares of the real estate investment trust’s stock valued at $92,000 after purchasing an additional 3,527 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Stock Performance

Shares of NYSE:INN opened at $6.17 on Friday. The business has a 50-day moving average of $6.60 and a two-hundred day moving average of $5.47. The firm has a market capitalization of $665.43 million, a PE ratio of -26.82 and a beta of 1.26. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71. Summit Hotel Properties, Inc. has a 12 month low of $3.97 and a 12 month high of $7.17.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. Summit Hotel Properties had a negative return on equity of 0.60% and a negative net margin of 0.99%.The business had revenue of $199.02 million for the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. As a group, research analysts forecast that Summit Hotel Properties, Inc. will post 0.76 earnings per share for the current year.

Summit Hotel Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Monday, August 17th. Summit Hotel Properties’s payout ratio is -139.13%.

Analysts Set New Price Targets

Several brokerages recently commented on INN. Weiss Ratings raised shares of Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Zacks Research upgraded shares of Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Raymond James Financial reissued an “outperform” rating and set a $7.00 price objective on shares of Summit Hotel Properties in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.40.

Summit Hotel Properties Company Profile

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company’s portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.