Inspire Investing LLC bought a new stock position in Summit Hotel Properties, Inc. (NYSE:INN – Get Rating) in Q1, HoldingsChannel.com reports. The institutional investor purchased 23,537 shares of the real estate investment trust, valued at approximately $234,000.
A number of other institutional investors also changed their stake in the company. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Summit Hotel Properties during Q1 valued at approximately $140,000. EverSource Wealth Advisors LLC acquired a new stake in Summit Hotel Properties during Q4 for a value of approximately $47,000. Systematic Financial Management LP increased its stake in Summit Hotel Properties by 9.8% during the 4th quarter. Systematic Financial Management LP now owns 939,975 shares of the real estate investment trust worth $9,174,000 after acquiring an additional 83,821 shares during the period. CastleKnight Management LP acquired a new stake in Summit Hotel Properties during the 4th quarter for a value of approximately $239,000. Finally, Journey Strategic Wealth LLC acquired a new stake in Summit Hotel Properties during Q4 for a value of approximately $106,000. Hedge funds and other institutional investors own 99.19% of the company’s shares.
Shares of Summit Hotel Properties opened at $7.29 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt ratio of 1.01. The company has a 50-day moving average price of $8.24 and a two-hundred-day moving average price of $9.25. Summit Hotel Properties, Inc. has a 1 year minimum of $6.70 and a 1 year maximum of $10.94. The company has a market capitalization of $778.72 million, a P/E ratio of -12.57 and a beta of 2.03.
Summit Hotel Properties (NYSE:INN – Get Rating) last released its results on Tuesday, May 3. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.16 per ($0.28). Summit Hotel Properties recorded a negative net margin of 9.56% and a negative return on equity of 3.59%. During the same period last year, the company made ($0.07) earnings per share. Equity research analysts expect Summit Hotel Properties, Inc. to post EPS of 0.88 for the current fiscal year.
About Summit Hotel Properties (Get an evaluation)
Summit Hotel Properties, Inc is a publicly traded real estate investment trust focused on owning premium branded hotels with efficient operating models primarily in the upscale segment of the lodging industry . As of November 3, 2020, the Company’s portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 rooms located in 23 states.
Want to see which other hedge funds hold INN? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Summit Hotel Properties, Inc. (NYSE:INN – Get Rating).
Receive daily news and reviews for Summit Hotel properties – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Summit Hotel Properties and related companies with MarketBeat.com’s FREE daily newsletter.