Tower Research Capital LLC TRC Has $51,000 Position in Summit Hotel Properties, Inc. (NYSE:INN)

Tower Research Capital LLC TRC increased its stake in shares of Summit Hotel Properties, Inc. (NYSE:INN) by 56.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,561 shares of the real estate investment trust’s stock after purchasing 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 filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in shares of Summit Hotel Properties by 103.1% during the fourth quarter. Quadrant Capital Group LLC now owns 4,835 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 2,454 shares during the period. First PREMIER Bank acquired a new stake in Summit Hotel Properties in the fourth quarter valued at approximately $42,000. Allspring Global Investments Holdings LLC lifted its stake in Summit Hotel Properties by 298.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,381 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 6,277 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in Summit Hotel Properties in the third quarter valued at approximately $59,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Summit Hotel Properties in the third quarter valued at approximately $59,000. 96.47% of the stock is currently owned by institutional investors and hedge funds.

Summit Hotel Properties Stock Down 2.8 %

NYSE INN traded down $0.17 during 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. The stock has a market capitalization of $646.62 million, a PE ratio of -22.87 and a beta of 1.94. The business has a 50-day moving average price of $6.39 and a 200-day moving average price of $6.38. Summit Hotel Properties, Inc. has a 1-year low of $5.31 and a 1-year high of $7.26.

Analyst Upgrades and Downgrades

Separately, Wolfe Research started coverage on shares of Summit Hotel Properties in a research note on Wednesday, January 10th. They issued a “peer perform” rating for the company.

Summit Hotel Properties Company Profile

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.