Vanguard Group Inc. Sells 273,821 Shares of Service Properties Trust (NASDAQ:SVC)

Vanguard Group Inc. trimmed its position in Service Properties Trust (NASDAQ:SVCFree Report) by 1.0% during the third quarter, HoldingsChannel.com reports. The fund owned 26,657,676 shares of the real estate investment trust’s stock after selling 273,821 shares during the quarter. Vanguard Group Inc. owned approximately 0.16% of Service Properties Trust worth $204,998,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Service Properties Trust in the third quarter valued at approximately $25,000. FinTrust Capital Advisors LLC acquired a new stake in Service Properties Trust in the third quarter valued at approximately $28,000. Point72 Hong Kong Ltd boosted its position in Service Properties Trust by 350.6% in the first quarter. Point72 Hong Kong Ltd now owns 4,389 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 3,415 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Service Properties Trust by 146.8% in the first quarter. Tower Research Capital LLC TRC now owns 5,131 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 3,052 shares in the last quarter. Finally, Quilter Plc acquired a new stake in Service Properties Trust in the second quarter valued at approximately $48,000. 77.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SVC shares. Wells Fargo & Company cut their target price on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. B. Riley cut their target price on shares of Service Properties Trust from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 4th.

Check Out Our Latest Stock Analysis on SVC

Service Properties Trust Price Performance

Shares of NASDAQ:SVC opened at $6.78 on Friday. The firm has a market cap of $1.12 billion, a PE ratio of -33.90 and a beta of 2.18. The firm’s fifty day moving average is $7.20 and its 200-day moving average is $7.52. The company has a debt-to-equity ratio of 3.26, a quick ratio of 0.09 and a current ratio of 0.09. Service Properties Trust has a 52 week low of $6.31 and a 52 week high of $10.20.

Service Properties Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, January 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Friday, January 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.80%. Service Properties Trust’s dividend payout ratio (DPR) is presently -400.00%.

Service Properties Trust Profile

(Free Report)

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 September 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.

See Also

Want to see what other hedge funds are holding SVC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Service Properties Trust (NASDAQ:SVCFree Report).

Institutional Ownership by Quarter for Service Properties Trust (NASDAQ:SVC)

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