Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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DOCUMENT TYPE SC 13G
TEXT
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Name of Issuer: SUMMIT HOTEL PROPERTIES INC
_____________________________________________________
Title of Class
of Securities: Common Stock
CUSIP Number: 866082100
1) NAME AND I.R.S. IDENTIFICATION NO. OF REPORTING PERSON
Prudential Financial, Inc. 22-3703799
2.) MEMBER OF A GROUP: (a) N/A
(b) N/A
3) SEC USE ONLY:
4) PLACE OF ORGANIZATION: New Jersey
NUMBER OF SHARES BENEFICIALLY OWNED BY REPORTING PERSON WITH:
5) Sole Voting Power: 143,007 See Exhibit A
6) Shared Voting Power: 5,649,457 See Exhibit A
7) Sole Dispositive Power: 143,007 See Exhibit A
8) Shared Dispositive Power: 5,649,457 See Exhibit A
9) AGGREGATE AMOUNT BENEFICIALLY OWNED: 5,792,464 See Exhibit A
10) AGGREGATE AMOUNT IN ROW (9) EXCLUDES SHARES: Not applicable
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 5.4 See Exhibit A
12) TYPE OF REPORTING PERSON: HC
ITEM 1(a). NAME OF ISSUER:
SUMMIT HOTEL PROPERTIES INC
ITEM 1(b). ADDRESS OF ISSUER'S EXECUTIVE OFFICES:
13215 BEE CAVE PARKWAY
SUITE B-300
AUSTIN, TX 78738
ITEM 2(a). NAME OF PERSON FILING:
Prudential Financial, Inc.
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
751 Broad Street
Newark, New Jersey 07102-3777
ITEM 2(c). CITIZENSHIP:
New Jersey
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2(e). CUSIP NUMBER:
866082100
ITEM 3. The Person filing this statement is a Parent Holding Company as
defined in Section 240.13d-1(b)(1)(ii)(G) of the Securities Exchange
Act of 1934.
ITEM 4. OWNERSHIP:
(a) Number of Shares
Beneficially Owned: 5,792,464 See Exhibit A
(b) Percent of Class: 5.4
(c) Powers No. Of Shares
----------- --------------------
Sole power to vote or 143,007 See Exhibit A to direct the vote
Shared power to vote or 5,649,457 See Exhibit A to direct the vote
Sole power to dispose or 143,007 See Exhibit A to direct disposition
Shared power to dispose 5,649,457 See Exhibit A or to direct disposition
ITEM 5. OWNERSHIP OF 5% OR LESS OF A CLASS:
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN 5% ON BEHALF OF
ANOTHER PERSON:
Our clients may have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities which are the subject of this filing.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE
SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING
REPORTED ON BY THE ULTIMATE PARENT COMPANY:
See Exhibit A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF
MEMBERS OF THE GROUP:
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not Applicable
ITEM 10. CERTIFICATION:
By signing below, Prudential Financial, Inc. certifies that, to the best of its
knowledge and belief, the securities referred to above were acquired
and are held in the ordinary course of business and were not acquired
and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction
having that purpose or effect.
The filing of this statement should not be construed as an admission that
Prudential Financial, Inc. is, for purposes of Sections 13 or 16 of the Securities
Exchange Act of 1934, the beneficial owner of such shares.
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
Prudential Financial, Inc. certifies that the information set forth in this
statement is true, complete and correct.
PRUDENTIAL FINANCIAL, INC.
By:Richard Baker
Second Vice President
Date:11-14-2024
As of:9-30-2024
Exhibit A
--------------
ITEM 4. OWNERSHIP:
Through its parent/subsidiary relationship, Prudential Financial, Inc. may be deemed the beneficial owner of the same securities as the Item 7 listed subsidiaries and may have direct or indirect voting and/or investment discretion over 5,792,464 shares.
These shares were acquired in the ordinary course of business, and not with the purpose or effect of changing or influencing control of the Issuer. The filing of this statement should not be construed as an admission that Prudential Financial, Inc. is, for the purposes of Sections 13 or 16 of the Securities Exchange Act of 1934, the beneficial owner of these shares.
ITEM 7. IDENTIFICATION/CLASSIFICATION:
Prudential Financial, Inc. is a Parent Holding Company and the indirect parent of the following subsidiaries, who are the beneficial owners of the number and percentage of securities which are the subject of this filing as set forth next to their names:
| Subsidiaries | Number of Shares | Percentage | |
| The Prudential Insurance Company of America | IC | 0 | 0.00 |
| Jennison Associates LLC | IA | 5,512,683 | 5.1 |
| PGIM, Inc. | IA | 0 | 0.00 |
| PGIM Quantitative Solutions LLC | IA | 279,654 | 0.3 |
| PRUCO Securities, LLC | IA | 127 | 0.00 |