JPMorgan Amends Summit Hotel Properties Stake as of Dec 29, 2023

TL;DR

**JPMorgan changed its stake in Summit Hotel Properties; watch for potential ripple effects.**

AI Summary

JPMorgan Chase & Co. filed an amended Schedule 13G/A on January 25, 2024, indicating a change in their beneficial ownership of Summit Hotel Properties, Inc. common stock as of December 29, 2023. This filing, an amendment to a previous disclosure, signals that JPMorgan's stake in Summit Hotel Properties has shifted, which could influence investor perception of the stock's institutional backing and stability.

Why It Matters

This filing shows a major institutional investor, JPMorgan Chase, has adjusted its position in Summit Hotel Properties, which can be a signal to other investors about the stock's attractiveness.

Risk Assessment

Risk Level: low — This is a routine amendment filing by a large institutional investor, indicating a change in ownership rather than a new, significant event.

Analyst Insight

Investors should note that a major institutional player like JPMorgan Chase & Co. has adjusted its position in Summit Hotel Properties. While this filing doesn't disclose the exact change in share count or percentage, it signals active management of their investment. Smart investors might look for the specific details of the change in the full filing (which is not provided here) or subsequent disclosures to understand the magnitude and potential implications for Summit Hotel Properties' stock.

Key Players & Entities

• JPMorgan Chase & Co. (company) — the entity filing the SC 13G/A amendment
• Summit Hotel Properties, Inc. (company) — the subject company whose stock is being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• January 25, 2024 (date) — the date the SC 13G/A was filed
• $0.01 (dollar_amount) — par value of Summit Hotel Properties' Common Stock

FAQ

Key Financial Figures

• $0.01 — INC. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti

Filing Documents

• SUMMIT_HOTEL_PROPERTIES_IN.htm (SC 13G/A) — 86KB
• 0000019617-24-000148.txt ( ) — 88KB

From the Filing

SC 13G/A 1 SUMMIT_HOTEL_PROPERTIES_IN.htm FILING SUMMIT HOTEL PROPERTIES, INC. Schedule 13G UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 01 )* SUMMIT HOTEL PROPERTIES, INC. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securities) 866082100 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x Rule 13d-1(b) o Rule 13d-1(c) o Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 866082100 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JPMORGAN CHASE & CO. 13-2624428 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 6,511,092 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 6,636,880 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 6,656,890 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.8 % 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC FOOTNOTES Item 1. (a) Name of Issuer SUMMIT HOTEL PROPERTIES, INC. (b) Address of Issuer's Principal Executive Offices 13215 Bee Cave Parkway, Suite B-300, Austin, TX 78738 Item 2. (a) Name of Person Filing JPMORGAN CHASE & CO. (b) Address of Principal Business Office or, if none, Residence 383 Madison Avenue New York, NY 10179 (c) Citizenship Delaware (d) Title of Class of Securities Common Stock, $0.01 par value (e) CUSIP Number 866082100 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) o Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) o Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) o An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) x A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) o A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) o A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J). (k) o A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 6,656,890 (b) Percent of class: 5.8 % (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 6,511,092 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 6,636,880 (iv) Shared power to dispose or to direct the disposition of: 0 Item 5. of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o . Item 6. of More than Five Percent on Behalf of Another Person. JPMorgan Asset Management Holdings (UK) Limited is the beneficial owner of 5.5% of the issuer's common stock Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company J.P. Morgan Trust Company of Delaware

View Full Filing

View this SC 13G/A filing on SEC EDGAR