Sumitomo Mitsui Trust Holdings Inc. Has $855,000 Holdings in Summit Hotel Properties, Inc. (NYSE:INN)

Sumitomo Mitsui Trust Holdings Inc. grew its position in Summit Hotel Properties, Inc. (NYSE:INN) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,211 shares of the real estate investment trust’s stock after purchasing an additional 11,625 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.12% of Summit Hotel Properties worth $855,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in Summit Hotel Properties by 5.9% in the 3rd 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 last quarter. Oak Thistle LLC acquired a new position in shares of Summit Hotel Properties during the 3rd quarter valued at about $78,000. Victory Capital Management Inc. increased its holdings in shares of Summit Hotel Properties by 2.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,306,637 shares of the real estate investment trust’s stock valued at $13,378,000 after acquiring an additional 45,459 shares during the last quarter. Swiss National Bank increased its holdings in shares of Summit Hotel Properties by 2.4% during the 3rd quarter. Swiss National Bank now owns 236,300 shares of the real estate investment trust’s stock valued at $1,371,000 after acquiring an additional 5,600 shares during the last quarter. Finally, Regent Peak Wealth Advisors LLC acquired a new position in shares of Summit Hotel Properties during the 3rd quarter valued at about $75,000. 96.47% of the stock is owned by institutional investors and hedge funds.

Summit Hotel Properties Stock Performance

Shares of NYSE INN opened at $6.07 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $652.53 million, a price-to-earnings ratio of -22.46 and a beta of 1.94. The business’s 50-day simple moving average is $6.42 and its 200-day simple moving average is $6.37. Summit Hotel Properties, Inc. has a 52 week low of $5.31 and a 52 week high of $7.26.

Analysts Set New Price Targets

Separately, Wolfe Research initiated coverage on Summit Hotel Properties in a report on Wednesday, January 10th. They set a “peer perform” rating on the stock.

About Summit Hotel Properties

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.