Hsbc Holdings PLC Boosts Position in Service Properties Trust (NASDAQ:SVC)

Hsbc Holdings PLC boosted its holdings in Service Properties Trust (NASDAQ:SVC – Get Rating) by 16.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 107,240 shares of the real estate investment trust’s stock after buying an additional 15,277 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of Service Properties Trust worth $559,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd grew its position in shares of Service Properties Trust by 350.6% during the first quarter. Point72 Hong Kong Ltd now owns 4,389 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 3,415 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Service Properties Trust by 452.7% in the third quarter. Rockefeller Capital Management L.P. now owns 6,500 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 5,324 shares during the last quarter. EMC Capital Management lifted its stake in Service Properties Trust by 49.5% in the second quarter. EMC Capital Management now owns 7,070 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 2,341 shares during the last quarter. Captrust Financial Advisors bought a new stake in Service Properties Trust in the second quarter valued at $41,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Service Properties Trust in the first quarter valued at $91,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Service Properties Trust Price Performance

Shares of NASDAQ SVC opened at $11.28 on Monday. Service Properties Trust has a fifty-two week low of $4.65 and a fifty-two week high of $11.33. The firm’s 50-day simple moving average is $8.73 and its 200 day simple moving average is $7.67. The company has a quick ratio of 0.18, a current ratio of 0.10 and a debt-to-equity ratio of 4.07. The stock has a market cap of $1.87 billion, a P/E ratio of -14.10 and a beta of 2.26.

Service Properties Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, January 23rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date was Friday, January 20th. Service Properties Trust’s dividend payout ratio is currently -100.00%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their target price on Service Properties Trust from $6.75 to $7.50 and gave the company an “underweight” rating in a research note on Thursday, February 2nd.

About Service Properties Trust

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Service Properties Trust is a real estate investment trust, which engages in the provision of hospitality and travel services. It operates through the following Hotel Investments and Net Lease Investments segments. The firm owns hotels and travel centers located throughout the U.S., Ontario, Canada, and Puerto Rico.