Geode Capital Management LLC Acquires 151,234 Shares of Service Properties Trust (NASDAQ:SVC)

Geode Capital Management LLC boosted its holdings in Service Properties Trust (NASDAQ:SVC) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,509,823 shares of the real estate investment trust’s stock after purchasing an additional 151,234 shares during the quarter. Geode Capital Management LLC’s holdings in Service Properties Trust were worth $20,568,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Xponance Inc. bought a new position in shares of Service Properties Trust during the 2nd quarter worth about $53,000. Choreo LLC bought a new stake in Service Properties Trust in the 2nd quarter valued at about $54,000. Wolverine Trading LLC acquired a new position in Service Properties Trust during the 3rd quarter worth approximately $58,000. Walleye Capital LLC bought a new position in Service Properties Trust in the third quarter worth approximately $58,000. Finally, Family Wealth Partners LLC bought a new position in Service Properties Trust in the third quarter worth approximately $69,000. 77.62% of the stock is currently owned by institutional investors.

Service Properties Trust Stock Down 3.1 %

Service Properties Trust stock opened at $2.49 on Friday. The firm has a market capitalization of $414.95 million, a price-to-earnings ratio of -1.69 and a beta of 2.19. The firm’s fifty day moving average price is $2.88 and its two-hundred day moving average price is $4.20. Service Properties Trust has a 1-year low of $2.29 and a 1-year high of $8.72. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.65). The business had revenue of $491.17 million during the quarter, compared to the consensus estimate of $497.97 million. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. During the same period in the previous year, the business posted $0.56 EPS. On average, equities research analysts predict 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 announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were given a dividend of $0.01 per share. 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 -2.72%.

Analyst Ratings Changes

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

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.