State Board of Administration of Florida Retirement System Sells 23,990 Shares of Service Properties Trust (NASDAQ:SVC)

State Board of Administration of Florida Retirement System reduced its stake in Service Properties Trust (NASDAQ:SVC – Get Rating) by 30.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,644 shares of the real estate investment trust’s stock after selling 23,990 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Service Properties Trust were worth $398,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Service Properties Trust by 0.4% in the 1st quarter. BlackRock Inc. now owns 32,357,954 shares of the real estate investment trust’s stock valued at $285,719,000 after buying an additional 121,531 shares during the period. Vanguard Group Inc. grew its stake in Service Properties Trust by 1.7% in the third quarter. Vanguard Group Inc. now owns 27,179,033 shares of the real estate investment trust’s stock valued at $141,059,000 after acquiring an additional 445,826 shares during the period. State Street Corp increased its holdings in shares of Service Properties Trust by 12.2% in the first quarter. State Street Corp now owns 10,852,926 shares of the real estate investment trust’s stock worth $95,831,000 after acquiring an additional 1,179,868 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Service Properties Trust by 150.1% during the 3rd quarter. Nuveen Asset Management LLC now owns 2,948,025 shares of the real estate investment trust’s stock valued at $15,300,000 after purchasing an additional 1,769,110 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Service Properties Trust by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,565,626 shares of the real estate investment trust’s stock valued at $22,655,000 after purchasing an additional 147,685 shares in the last quarter. Institutional investors own 78.28% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on SVC shares. B. Riley dropped their target price on shares of Service Properties Trust from $15.00 to $13.00 in a report on Thursday, May 11th. TheStreet raised Service Properties Trust from a “d+” rating to a “c” rating in a research report on Monday, April 10th. Oppenheimer reaffirmed a “market perform” rating and set a $8.50 price target on shares of Service Properties Trust in a research note on Tuesday, March 7th. Finally, Wells Fargo & Company boosted their price objective on shares of 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 Stock Down 0.7 %

SVC stock opened at $8.05 on Friday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 89.44 and a beta of 2.24. Service Properties Trust has a twelve month low of $4.65 and a twelve month high of $11.56. The business has a 50 day moving average price of $9.17 and a two-hundred day moving average price of $8.65. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.13.

Service Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, April 24th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, April 21st. This represents a $0.80 dividend on an annualized basis and a yield of 9.94%. Service Properties Trust’s payout ratio is 888.89%.

Service Properties Trust Company Profile

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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.