GSA Capital Partners LLP Buys Shares of 156,619 Summit Hotel Properties, Inc. $INN

GSA Capital Partners LLP purchased a new position in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 156,619 shares of the real estate investment trust’s stock, valued at approximately $860,000. GSA Capital Partners LLP owned 0.14% of Summit Hotel Properties at the end of the most recent quarter.

Several other large investors have also made changes to their positions in INN. BNP Paribas Financial Markets increased its stake in Summit Hotel Properties by 53.6% in the second quarter. BNP Paribas Financial Markets now owns 10,807 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 3,773 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Summit Hotel Properties by 148.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,793 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 6,442 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Summit Hotel Properties by 119.6% in the 2nd quarter. Coldstream Capital Management Inc. now owns 11,438 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 6,229 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Summit Hotel Properties in the 2nd quarter valued at $65,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Summit Hotel Properties during the 2nd quarter worth $86,000. Institutional investors and hedge funds own 96.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on INN shares. Deutsche Bank Aktiengesellschaft set a $6.00 target price on shares of Summit Hotel Properties and gave the stock a “buy” rating in a report on Tuesday, January 13th. Zacks Research downgraded shares of Summit Hotel Properties from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Robert W. Baird set a $5.00 target price on shares of Summit Hotel Properties in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Summit Hotel Properties in a research note on Monday, December 29th. Finally, Bank of America reaffirmed an “underperform” rating and set a $4.50 price target (down previously from $5.75) on shares of Summit Hotel Properties in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Summit Hotel Properties currently has a consensus rating of “Reduce” and an average target price of $5.00.

Insider Buying and Selling at Summit Hotel Properties

In other news, Director Mehulkumar Bhikhubhai Patel sold 25,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $4.84, for a total transaction of $121,000.00. Following the transaction, the director owned 444,295 shares of the company’s stock, valued at $2,150,387.80. This represents a 5.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.83% of the company’s stock.

Summit Hotel Properties Trading Down 1.3%

NYSE:INN opened at $4.34 on Friday. Summit Hotel Properties, Inc. has a 52 week low of $3.57 and a 52 week high of $6.65. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s fifty day moving average is $4.71 and its 200-day moving average is $5.15. The firm has a market cap of $471.65 million, a P/E ratio of -27.09 and a beta of 1.29.

Summit Hotel Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Friday, February 13th. Summit Hotel Properties’s payout ratio is -200.00%.

Summit Hotel Properties Company Profile

Summit Hotel Properties is a real estate investment trust (REIT) that acquires, owns and operates branded select-service hotels and extended-stay properties across the United States. The company focuses on upper-midscale and upscale lodging segments, targeting established national brands to combine the operational efficiencies of limited-service properties with strong franchise affiliation.

The company’s portfolio comprises over thirty hotels carrying well-known flags such as Marriott, Hilton, Hyatt and IHG.