Rhumbline Advisers Raises Holdings in Service Properties Trust (NASDAQ:SVC)

Rhumbline Advisers lifted its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 4.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 622,766 shares of the real estate investment trust’s stock after acquiring an additional 28,226 shares during the period. Rhumbline Advisers owned approximately 0.38% of Service Properties Trust worth $6,203,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. grew its stake in shares of Service Properties Trust by 0.4% during the first quarter. BlackRock Inc. now owns 32,357,954 shares of the real estate investment trust’s stock worth $285,719,000 after acquiring an additional 121,531 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Service Properties Trust by 1.7% during the third quarter. Vanguard Group Inc. now owns 27,179,033 shares of the real estate investment trust’s stock worth $141,059,000 after acquiring an additional 445,826 shares during the last quarter. State Street Corp grew its stake in shares of Service Properties Trust by 12.2% during 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 during the last quarter. LSV Asset Management grew its stake in shares of Service Properties Trust by 4.1% during the first quarter. LSV Asset Management now owns 3,992,817 shares of the real estate investment trust’s stock worth $39,768,000 after acquiring an additional 156,280 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Service Properties Trust by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 3,509,961 shares of the real estate investment trust’s stock valued at $25,587,000 after buying an additional 94,641 shares during the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.

Service Properties Trust Price Performance

Shares of NASDAQ SVC opened at $7.97 on Thursday. The business’s 50 day moving average price is $8.54 and its 200 day moving average price is $9.01. The firm has a market cap of $1.32 billion, a P/E ratio of -159.37 and a beta of 2.21. Service Properties Trust has a 52 week low of $4.99 and a 52 week high of $11.56. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 4.27.

Service Properties Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, July 24th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 21st. This represents a $0.80 dividend on an annualized basis and a yield of 10.04%. Service Properties Trust’s dividend payout ratio is currently -1,599.68%.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their target price on Service Properties Trust from $15.00 to $13.00 in a research report on Thursday, May 11th.

Service Properties Trust 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.