Natixis Advisors L.P. Sells 1,931 Shares of Summit Hotel Properties Inc (INN)
Natixis Advisors L.P. trimmed its stake in Summit Hotel Properties Inc (NYSE:INN) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 38,656 shares of the real estate investment trust’s stock after selling 1,931 shares during the quarter. Natixis Advisors L.P.’s holdings in Summit Hotel Properties were worth $376,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the business. Pearl River Capital LLC bought a new stake in shares of Summit Hotel Properties during the fourth quarter valued at about $36,000. Quantamental Technologies LLC bought a new stake in shares of Summit Hotel Properties during the fourth quarter valued at about $75,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Summit Hotel Properties during the third quarter valued at about $142,000. Accident Compensation Corp bought a new stake in shares of Summit Hotel Properties during the third quarter valued at about $144,000. Finally, First Republic Investment Management Inc. bought a new stake in shares of Summit Hotel Properties during the third quarter valued at about $162,000. Institutional investors own 99.87% of the company’s stock.
A number of equities research analysts recently weighed in on INN shares. KeyCorp set a $13.00 price objective on shares of Summit Hotel Properties and gave the company a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research upgraded shares of Summit Hotel Properties from a “sell” rating to a “hold” rating in a research note on Saturday, February 16th. Finally, ValuEngine upgraded shares of Summit Hotel Properties from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Summit Hotel Properties has an average rating of “Hold” and an average target price of $13.75.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend was Wednesday, February 13th. Summit Hotel Properties’s payout ratio is currently 53.33%.
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Summit Hotel Properties Profile
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 October 30, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,659 guestrooms located in 26 states.
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