State Street Corp Sells 65,528 Shares of Service Properties Trust (NASDAQ:SVC)

State Street Corp cut its position in Service Properties Trust (NASDAQ:SVC) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,059,567 shares of the real estate investment trust’s stock after selling 65,528 shares during the quarter. State Street Corp owned about 0.05% of Service Properties Trust worth $41,312,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Service Properties Trust by 395.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,038,410 shares of the real estate investment trust’s stock valued at $4,735,000 after buying an additional 828,765 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Service Properties Trust by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,294,874 shares of the real estate investment trust’s stock valued at $28,705,000 after purchasing an additional 616,718 shares in the last quarter. Capital Management Corp VA raised its stake in shares of Service Properties Trust by 9.6% during the 3rd quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock valued at $23,596,000 after purchasing an additional 453,944 shares during the period. Whitebox Advisors LLC lifted its holdings in Service Properties Trust by 167.7% during the 2nd quarter. Whitebox Advisors LLC now owns 610,602 shares of the real estate investment trust’s stock worth $3,138,000 after purchasing an additional 382,502 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Service Properties Trust by 65.3% in the 2nd quarter. AQR Capital Management LLC now owns 734,572 shares of the real estate investment trust’s stock worth $3,607,000 after purchasing an additional 290,208 shares during the period. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their price target on Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating on the stock in a research report on Monday, December 9th.

Service Properties Trust Stock Up 6.4 %

SVC opened at $2.48 on Friday. The company has a fifty day moving average price of $3.04 and a 200-day moving average price of $4.29. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market capitalization of $413.29 million, a P/E ratio of -1.69 and a beta of 2.19. Service Properties Trust has a one year low of $2.29 and a one year high of $8.72.

Service Properties Trust (NASDAQ:SVC) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.65). The firm had revenue of $491.17 million during the quarter, compared to analysts’ expectations of $497.97 million. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. During the same period in the previous year, the firm earned $0.56 earnings per share. Equities research analysts expect that Service Properties Trust will post 1.13 earnings per share for the current fiscal year.

Service Properties Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were paid a $0.01 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.61%. Service Properties Trust’s payout ratio is currently -2.72%.

Service Properties Trust Company Profile

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of December 31, 2023, SVC owned 221 hotels with over 37,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service.