Summit Hotel Properties, Inc. (NYSE:INN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,977,915 shares of the real estate investment trust’s stock after selling 1,143,532 shares during the quarter. Jennison Associates LLC’s holdings in Summit Hotel Properties were worth $33,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its stake in Summit Hotel Properties by 5.9% during the third quarter. Public Employees Retirement System of Ohio now owns 154,353 shares of the real estate investment trust’s stock worth $895,000 after purchasing an additional 8,663 shares during the period. Oak Thistle LLC purchased a new stake in Summit Hotel Properties during the third quarter worth about $78,000. Victory Capital Management Inc. increased its stake in Summit Hotel Properties by 2.0% during the third quarter. Victory Capital Management Inc. now owns 2,306,637 shares of the real estate investment trust’s stock worth $13,378,000 after purchasing an additional 45,459 shares during the period. Swiss National Bank increased its stake in Summit Hotel Properties by 2.4% during the third quarter. Swiss National Bank now owns 236,300 shares of the real estate investment trust’s stock worth $1,371,000 after purchasing an additional 5,600 shares during the period. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in Summit Hotel Properties during the third quarter worth about $75,000. 96.47% of the stock is currently owned by hedge funds and other institutional investors.

Summit Hotel Properties Stock Down 1.6 %

INN stock opened at $6.27 on Thursday. The company’s 50 day moving average price is $6.42 and its 200 day moving average price is $6.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 0.80. Summit Hotel Properties, Inc. has a fifty-two week low of $5.31 and a fifty-two week high of $7.26.

Analyst Ratings Changes

Separately, Wolfe Research started coverage on shares of Summit Hotel Properties in a research note on Wednesday, January 10th. They set a “peer perform” rating on the stock.

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.