WINTON GROUP Ltd Makes New Investment in Summit Hotel Properties Inc (NYSE:INN)

WINTON GROUP Ltd bought a new position in Summit Hotel Properties Inc (NYSE:INN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 26,631 shares of the real estate investment trust’s stock, valued at approximately $305,000.

A number of other hedge funds have also added to or reduced their stakes in INN. Versant Capital Management Inc increased its stake in shares of Summit Hotel Properties by 3,492.5% during the first quarter. Versant Capital Management Inc now owns 3,341 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 3,248 shares during the period. First Allied Advisory Services Inc. purchased a new position in shares of Summit Hotel Properties during the fourth quarter valued at $136,000. SG Americas Securities LLC increased its stake in shares of Summit Hotel Properties by 33.3% during the first quarter. SG Americas Securities LLC now owns 14,216 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 3,554 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Summit Hotel Properties by 53.4% during the first quarter. Pictet Asset Management Ltd. now owns 18,100 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 6,300 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in shares of Summit Hotel Properties during the first quarter valued at $213,000. Institutional investors and hedge funds own 99.87% of the company’s stock.

INN traded up $0.03 on Friday, hitting $11.45. The company had a trading volume of 519,423 shares, compared to its average volume of 601,879. The company has a fifty day simple moving average of $11.48. Summit Hotel Properties Inc has a 12-month low of $9.29 and a 12-month high of $14.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $1.20 billion, a PE ratio of 8.48 and a beta of 1.22.

Summit Hotel Properties (NYSE:INN) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.09. Summit Hotel Properties had a return on equity of 8.82% and a net margin of 18.95%. The company had revenue of $142.93 million for the quarter, compared to analyst estimates of $141.05 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, research analysts forecast that Summit Hotel Properties Inc will post 1.19 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.18 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 6.29%. Summit Hotel Properties’s dividend payout ratio (DPR) is presently 53.33%.

Several brokerages have recently commented on INN. TheStreet upgraded Summit Hotel Properties from a “c” rating to a “b-” rating in a research note on Friday, May 3rd. Deutsche Bank restated a “buy” rating and set a $14.00 price target on shares of Summit Hotel Properties in a research note on Sunday, April 21st. Capital One Financial began coverage on Summit Hotel Properties in a research note on Tuesday, June 25th. They set an “equal weight” rating and a $13.00 price target on the stock. ValuEngine lowered Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research note on Saturday, July 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $13.40.

Summit Hotel Properties Company Profile

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 April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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Institutional Ownership by Quarter for Summit Hotel Properties (NYSE:INN)

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