Russell Investments Group Ltd. trimmed its holdings in shares of Service Properties Trust (NASDAQ:SVC – Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,419 shares of the real estate investment trust’s stock after selling 3,933 shares during the quarter. Russell Investments Group Ltd.’s holdings in Service Properties Trust were worth $599,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. EMC Capital Management raised its position in shares of Service Properties Trust by 16.8% during the 4th quarter. EMC Capital Management now owns 8,261 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 1,191 shares in the last quarter. Captrust Financial Advisors raised its position in Service Properties Trust by 8.1% in the 4th quarter. Captrust Financial Advisors now owns 16,277 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 1,222 shares during the period. Arizona State Retirement System raised its position in Service Properties Trust by 2.9% in the 1st quarter. Arizona State Retirement System now owns 47,941 shares of the real estate investment trust’s stock worth $477,000 after purchasing an additional 1,343 shares during the period. Advisor Group Holdings Inc. raised its position in Service Properties Trust by 4.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 36,137 shares of the real estate investment trust’s stock worth $263,000 after purchasing an additional 1,533 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Service Properties Trust by 2.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,405 shares of the real estate investment trust’s stock worth $741,000 after purchasing an additional 1,746 shares during the period. 78.20% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, B. Riley reduced their price objective on shares of Service Properties Trust from $15.00 to $13.00 in a research report on Thursday, May 11th.
Service Properties Trust Stock Performance
Service Properties Trust stock opened at $8.23 on Friday. The company has a debt-to-equity ratio of 4.27, a current ratio of 0.76 and a quick ratio of 0.76. Service Properties Trust has a 1-year low of $4.99 and a 1-year high of $11.56. The firm has a market capitalization of $1.36 billion, a P/E ratio of -164.60 and a beta of 2.21. The company’s 50-day moving average is $8.56 and its 200 day moving average is $9.05.
Service Properties Trust Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, July 24th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.72%. The ex-dividend date was Friday, July 21st. Service Properties Trust’s dividend payout ratio (DPR) is presently -1,600.00%.
Service Properties Trust Company Profile
Service Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of June 30, 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.
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