CANADA LIFE ASSURANCE Co Acquires 10,512 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

CANADA LIFE ASSURANCE Co grew its holdings in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 238,703 shares of the real estate investment trust’s stock after acquiring an additional 10,512 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.22% of Summit Hotel Properties worth $1,635,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Summit Hotel Properties by 5.8% during the 4th quarter. Victory Capital Management Inc. now owns 2,577,615 shares of the real estate investment trust’s stock worth $17,657,000 after purchasing an additional 141,010 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Summit Hotel Properties by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 525,598 shares of the real estate investment trust’s stock valued at $3,600,000 after buying an additional 15,137 shares during the period. Jennison Associates LLC raised its position in shares of Summit Hotel Properties by 21.6% during the fourth quarter. Jennison Associates LLC now owns 6,704,189 shares of the real estate investment trust’s stock worth $45,924,000 after acquiring an additional 1,191,506 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Summit Hotel Properties by 115.6% in the third quarter. Franklin Resources Inc. now owns 121,534 shares of the real estate investment trust’s stock worth $803,000 after acquiring an additional 65,175 shares during the period. Finally, Amundi boosted its holdings in Summit Hotel Properties by 22.4% in the fourth quarter. Amundi now owns 105,562 shares of the real estate investment trust’s stock valued at $689,000 after acquiring an additional 19,317 shares during the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

INN stock opened at $3.97 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. The firm has a market cap of $442.19 million, a price-to-earnings ratio of 397.00, a PEG ratio of 1.54 and a beta of 1.78. The company’s fifty day simple moving average is $5.23 and its 200 day simple moving average is $6.11. 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 will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date of this dividend is Friday, May 16th. Summit Hotel Properties’s dividend payout ratio is 177.78%.

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.