Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Holdings in Summit Hotel Properties, Inc. $INN

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 84,157 shares of the real estate investment trust’s stock, valued at approximately $590,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Summit Hotel Properties at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd grew its position in shares of Summit Hotel Properties by 717.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 268,530 shares of the real estate investment trust’s stock valued at $1,187,000 after purchasing an additional 235,699 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Summit Hotel Properties during the 1st quarter worth approximately $8,624,000. Jennison Associates LLC raised its position in shares of Summit Hotel Properties by 2.0% during the 1st quarter. Jennison Associates LLC now owns 7,081,569 shares of the real estate investment trust’s stock worth $31,301,000 after purchasing an additional 140,495 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of Summit Hotel Properties during the 1st quarter worth approximately $510,000. Finally, Intech Investment Management LLC lifted its stake in Summit Hotel Properties by 102.0% in the 4th quarter. Intech Investment Management LLC now owns 180,884 shares of the real estate investment trust’s stock valued at $881,000 after buying an additional 91,335 shares in the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Summit Hotel Properties Price Performance

Summit Hotel Properties stock opened at $6.17 on Friday. The stock has a market capitalization of $665.43 million, a P/E ratio of -26.82 and a beta of 1.26. Summit Hotel Properties, Inc. has a 12-month low of $3.97 and a 12-month high of $7.17. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s 50-day moving average is $6.60 and its two-hundred day moving average is $5.47.

Summit Hotel Properties (NYSE:INN) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $199.02 million during the quarter, compared to analyst estimates of $198.41 million. Summit Hotel Properties had a negative net margin of 0.99% and a negative return on equity of 0.60%. Summit Hotel Properties has set its FY 2026 guidance at 0.790-0.850 EPS. Equities analysts predict that Summit Hotel Properties, Inc. will post 0.76 earnings per share for the current year.

Summit Hotel Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.08 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.32 annualized dividend and a yield of 5.2%. Summit Hotel Properties’s payout ratio is -139.13%.

Analyst Ratings Changes

A number of brokerages have commented on INN. Raymond James Financial reiterated an “outperform” rating and set a $7.00 target price on shares of Summit Hotel Properties in a report on Monday, June 8th. Weiss Ratings raised Summit Hotel Properties from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Zacks Research upgraded Summit Hotel Properties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.40.

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.