MQS Management LLC Buys Shares of 10,402 Service Properties Trust (NASDAQ:SVC)

MQS Management LLC bought a new stake in Service Properties Trust (NASDAQ:SVC – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,402 shares of the real estate investment trust’s stock, valued at approximately $54,000.

Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its position in shares of Service Properties Trust by 3.3% in the third quarter. Daiwa Securities Group Inc. now owns 47,549 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 1,531 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Service Properties Trust by 1.3% in the third quarter. Macquarie Group Ltd. now owns 140,407 shares of the real estate investment trust’s stock valued at $828,000 after purchasing an additional 1,771 shares in the last quarter. Creative Planning grew its position in shares of Service Properties Trust by 4.3% in the third quarter. Creative Planning now owns 46,153 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 1,903 shares in the last quarter. Texas Permanent School Fund grew its position in shares of Service Properties Trust by 1.6% in the second quarter. Texas Permanent School Fund now owns 118,972 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 1,929 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Service Properties Trust by 21.3% in the second quarter. Mackenzie Financial Corp now owns 12,387 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 2,175 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SVC has been the subject of several recent analyst reports. Oppenheimer restated a “market perform” rating and set a $8.50 target price on shares of Service Properties Trust in a research report on Tuesday, March 7th. Wells Fargo & Company boosted their target price on Service Properties Trust from $6.75 to $7.50 and gave the stock an “underweight” rating in a research report on Thursday, February 2nd.

Service Properties Trust Price Performance

Service Properties Trust stock opened at $9.59 on Friday. Service Properties Trust has a 52 week low of $4.65 and a 52 week high of $11.56. The business has a 50-day simple moving average of $9.38 and a 200 day simple moving average of $7.88. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 4.07. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -11.99 and a beta of 2.26.

Service Properties Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, January 23rd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 8.34%. The ex-dividend date of this dividend was Friday, January 20th. Service Properties Trust’s payout ratio is -100.00%.

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.