Dean Investment Associates LLC Decreases Position in Summit Hotel Properties Inc (INN)

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Dean Investment Associates LLC cut its stake in shares of Summit Hotel Properties Inc (NYSE:INN) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,198 shares of the real estate investment trust’s stock after selling 4,862 shares during the quarter. Dean Investment Associates LLC owned 0.18% of Summit Hotel Properties worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in INN. Nuveen Asset Management LLC grew its holdings in Summit Hotel Properties by 21.9% during the 1st quarter. Nuveen Asset Management LLC now owns 6,973,825 shares of the real estate investment trust’s stock worth $94,914,000 after acquiring an additional 1,253,785 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in Summit Hotel Properties by 205.1% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,823,875 shares of the real estate investment trust’s stock worth $26,100,000 after acquiring an additional 1,226,150 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Summit Hotel Properties by 53.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,835,463 shares of the real estate investment trust’s stock worth $24,981,000 after acquiring an additional 641,291 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Summit Hotel Properties by 24.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,179,121 shares of the real estate investment trust’s stock worth $29,658,000 after acquiring an additional 431,545 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Summit Hotel Properties by 153.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 405,000 shares of the real estate investment trust’s stock worth $5,796,000 after acquiring an additional 245,236 shares during the last quarter. 98.54% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on INN shares. Zacks Investment Research lowered shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. ValuEngine raised shares of Summit Hotel Properties from a “hold” rating to a “buy” rating in a report on Tuesday, May 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.58.

Shares of NYSE INN opened at $13.64 on Friday. The company has a market capitalization of $1.41 billion, a PE ratio of 10.18, a PEG ratio of 2.93 and a beta of 1.21. Summit Hotel Properties Inc has a 52-week low of $12.77 and a 52-week high of $16.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.51 and a current ratio of 1.51.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $152.20 million for the quarter, compared to the consensus estimate of $151.13 million. Summit Hotel Properties had a net margin of 14.16% and a return on equity of 6.53%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. equities research analysts expect that Summit Hotel Properties Inc will post 1.28 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Thursday, August 16th will be given a $0.18 dividend. The ex-dividend date is Wednesday, August 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.28%. Summit Hotel Properties’s dividend payout ratio (DPR) is currently 53.73%.

About Summit Hotel Properties

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 May 2, 2018, the Company's portfolio consisted of 83 hotels with a total of 12,250 guestrooms located in 26 states.

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

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