Service Properties Trust (NASDAQ:SVC) Shares Sold by Creative Planning

Creative Planning reduced its stake in shares of Service Properties Trust (NASDAQ:SVC) by 35.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 123,304 shares of the real estate investment trust’s stock after selling 68,335 shares during the quarter. Creative Planning’s holdings in Service Properties Trust were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Daiwa Securities Group Inc. raised its holdings in Service Properties Trust by 7.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 54,003 shares of the real estate investment trust’s stock valued at $366,000 after acquiring an additional 3,601 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Service Properties Trust by 246.0% in the 1st quarter. GSA Capital Partners LLP now owns 152,710 shares of the real estate investment trust’s stock valued at $1,035,000 after acquiring an additional 108,575 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in Service Properties Trust by 1.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock valued at $984,000 after acquiring an additional 2,476 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in Service Properties Trust by 8.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 100,377 shares of the real estate investment trust’s stock valued at $681,000 after acquiring an additional 7,939 shares during the last quarter. Finally, NorthRock Partners LLC acquired a new position in Service Properties Trust in the 1st quarter valued at $75,000. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on SVC shares. B. Riley cut their price target on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company cut their price target on Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Friday, September 13th.

Service Properties Trust Trading Down 2.3 %

SVC stock opened at $2.96 on Wednesday. The company has a market cap of $491.03 million, a price-to-earnings ratio of -2.43 and a beta of 2.23. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 3.98. The business has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $4.98. Service Properties Trust has a 52 week low of $2.93 and a 52 week high of $8.72.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.94). The firm had revenue of $512.95 million for the quarter, compared to analyst estimates of $509.33 million. Service Properties Trust had a negative return on equity of 17.17% and a negative net margin of 10.56%. During the same quarter in the previous year, the company earned $0.58 earnings per share. On average, equities research analysts expect that Service Properties Trust will post 1.21 EPS for the current year.

Service Properties Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.35%. Service Properties Trust’s payout ratio is -3.28%.

Service Properties Trust 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.