Tower Research Capital LLC TRC Purchases 2,728 Shares of Summit Hotel Properties, Inc. (NYSE:INN)

Tower Research Capital LLC TRC increased its position in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 56.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,561 shares of the real estate investment trust’s stock after acquiring an additional 2,728 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Summit Hotel Properties were worth $51,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in Summit Hotel Properties by 5.9% during 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 buying an additional 8,663 shares during the period. Oak Thistle LLC acquired a new stake in Summit Hotel Properties during the 3rd quarter worth approximately $78,000. Victory Capital Management Inc. raised its holdings in 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 worth $13,378,000 after buying an additional 45,459 shares during the period. Swiss National Bank raised its holdings in 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 worth $1,371,000 after buying an additional 5,600 shares during the period. Finally, Regent Peak Wealth Advisors LLC acquired a new stake in Summit Hotel Properties during the 3rd quarter worth approximately $75,000. Institutional investors own 96.47% of the company’s stock.

Summit Hotel Properties Stock Down 2.8 %

Shares of NYSE INN traded down $0.17 during midday trading on Tuesday, reaching $6.01. The company’s stock had a trading volume of 658,994 shares, compared to its average volume of 750,999. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.06. Summit Hotel Properties, Inc. has a fifty-two week low of $5.31 and a fifty-two week high of $7.26. The stock has a market capitalization of $646.62 million, a price-to-earnings ratio of -22.87 and a beta of 1.94. The stock has a 50 day simple moving average of $6.39 and a 200-day simple moving average of $6.38.

Analyst Ratings Changes

Separately, Wolfe Research started coverage on shares of 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.