Summit Hotel Properties, Inc. (NYSE:INN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Summit Hotel Properties, Inc. (NYSE:INN) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 587,796 shares of the real estate investment trust’s stock after selling 45,919 shares during the period. State of New Jersey Common Pension Fund D owned about 0.55% of Summit Hotel Properties worth $3,950,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Summit Hotel Properties by 2.0% in the third 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 buying an additional 45,459 shares during the last quarter. Foundry Partners LLC raised its position in shares of Summit Hotel Properties by 7.6% in the third quarter. Foundry Partners LLC now owns 408,814 shares of the real estate investment trust’s stock valued at $2,371,000 after buying an additional 29,024 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Summit Hotel Properties by 25.8% in the third quarter. SG Americas Securities LLC now owns 238,110 shares of the real estate investment trust’s stock valued at $1,381,000 after buying an additional 48,795 shares during the last quarter. Swiss National Bank raised its position in shares of Summit Hotel Properties by 2.4% in the third quarter. Swiss National Bank now owns 236,300 shares of the real estate investment trust’s stock valued at $1,371,000 after buying an additional 5,600 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Summit Hotel Properties by 5.9% in the third quarter. Public Employees Retirement System of Ohio now owns 154,353 shares of the real estate investment trust’s stock valued at $895,000 after buying an additional 8,663 shares during the last quarter. Institutional investors and hedge funds own 96.47% of the company’s stock.

Wall Street Analyst Weigh In

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

Summit Hotel Properties Price Performance

Summit Hotel Properties stock opened at $6.13 on Friday. Summit Hotel Properties, Inc. has a 1 year low of $5.31 and a 1 year high of $7.26. The firm has a 50 day moving average price of $6.41 and a 200 day moving average price of $6.36. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.80 and a current ratio of 0.80.

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.