Vanguard Group Inc. Sells 174,560 Shares of Service Properties Trust (NASDAQ:SVC)

Vanguard Group Inc. decreased its position in Service Properties Trust (NASDAQ:SVC) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 26,483,116 shares of the real estate investment trust’s stock after selling 174,560 shares during the period. Vanguard Group Inc. owned about 0.16% of Service Properties Trust worth $226,166,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Service Properties Trust during the 4th quarter valued at $9,333,000. Capital Management Corp VA boosted its holdings in shares of Service Properties Trust by 14.8% during the fourth quarter. Capital Management Corp VA now owns 3,243,310 shares of the real estate investment trust’s stock worth $27,698,000 after purchasing an additional 417,225 shares during the period. Northern Trust Corp grew its stake in shares of Service Properties Trust by 18.6% in the third quarter. Northern Trust Corp now owns 2,511,244 shares of the real estate investment trust’s stock worth $19,311,000 after purchasing an additional 393,555 shares during the last quarter. AQR Capital Management LLC increased its holdings in Service Properties Trust by 108.0% during the 3rd quarter. AQR Capital Management LLC now owns 635,044 shares of the real estate investment trust’s stock valued at $4,883,000 after purchasing an additional 329,690 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Service Properties Trust by 14.9% during the 4th quarter. Allianz Asset Management GmbH now owns 846,736 shares of the real estate investment trust’s stock valued at $7,231,000 after purchasing an additional 109,732 shares during the last quarter. 77.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SVC shares. B. Riley cut their price objective on Service Properties Trust from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Wells Fargo & Company reduced their price objective on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a research report on Thursday, March 21st.

Service Properties Trust Stock Performance

Shares of SVC opened at $5.01 on Tuesday. The company has a 50-day simple moving average of $5.49 and a two-hundred day simple moving average of $6.72. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $830.46 million, a PE ratio of -5.96 and a beta of 2.21. Service Properties Trust has a one year low of $4.81 and a one year high of $9.39.

Service Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, April 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $0.80 annualized dividend and a dividend yield of 15.97%. Service Properties Trust’s dividend payout ratio is presently -95.24%.

About Service Properties Trust

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.