Alps Advisors Inc. Grows Holdings in Service Properties Trust (NASDAQ:SVC)

Alps Advisors Inc. increased its position in Service Properties Trust (NASDAQ:SVCGet Rating) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,727 shares of the real estate investment trust’s stock after acquiring an additional 5,037 shares during the quarter. Alps Advisors Inc. owned about 0.05% of Service Properties Trust worth $433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd boosted its stake in Service Properties Trust by 350.6% in the 1st quarter. Point72 Hong Kong Ltd now owns 4,389 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 3,415 shares during the period. Mackenzie Financial Corp boosted its stake in Service Properties Trust by 21.3% in the 2nd quarter. Mackenzie Financial Corp now owns 12,387 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 2,175 shares during the period. KBC Group NV bought a new position in Service Properties Trust in the 2nd quarter worth approximately $74,000. Cambridge Investment Research Advisors Inc. bought a new position in Service Properties Trust in the 2nd quarter worth approximately $75,000. Finally, M&T Bank Corp boosted its position in shares of Service Properties Trust by 36.0% during the 2nd quarter. M&T Bank Corp now owns 17,747 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 4,702 shares during the last quarter. 79.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their target price on Service Properties Trust from $6.25 to $6.75 and gave the company an “underweight” rating in a research report on Monday, August 29th.

Service Properties Trust Stock Up 0.8 %

Shares of SVC opened at $7.69 on Wednesday. The company has a market cap of $1.27 billion, a PE ratio of -4.23 and a beta of 2.31. The business has a fifty day moving average of $6.89 and a 200 day moving average of $6.59. Service Properties Trust has a 52-week low of $4.65 and a 52-week high of $10.16. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 3.96.

Service Properties Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Monday, October 24th were given a $0.20 dividend. The ex-dividend date was Friday, October 21st. This represents a $0.80 dividend on an annualized basis and a yield of 10.40%. Service Properties Trust’s dividend payout ratio is presently -43.96%.

Service Properties Trust Profile

(Get Rating)

Service Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 149 distinct brands across 23 industries. SVC's properties are primarily operated under long-term management or lease agreements.

Further Reading

Institutional Ownership by Quarter for Service Properties Trust (NASDAQ:SVC)

Receive News & Ratings for Service Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Service Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.