Mirae Asset Global Investments Co. Ltd. Increases Stake in Service Properties Trust (NASDAQ:SVC)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 78,373 shares of the real estate investment trust’s stock after purchasing an additional 6,677 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Service Properties Trust were worth $669,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Illinois Municipal Retirement Fund purchased a new position in Service Properties Trust during the 3rd quarter worth approximately $776,000. Graham Capital Management L.P. raised its position in Service Properties Trust by 188.2% during the 3rd quarter. Graham Capital Management L.P. now owns 55,159 shares of the real estate investment trust’s stock worth $424,000 after buying an additional 36,022 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Service Properties Trust by 8.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 237,412 shares of the real estate investment trust’s stock worth $1,826,000 after buying an additional 17,624 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Service Properties Trust by 108.0% during the 3rd quarter. AQR Capital Management LLC now owns 635,044 shares of the real estate investment trust’s stock valued at $4,883,000 after purchasing an additional 329,690 shares in the last quarter. Finally, Capital Management Corp VA increased its holdings in shares of Service Properties Trust by 8.5% during the 3rd quarter. Capital Management Corp VA now owns 2,826,085 shares of the real estate investment trust’s stock valued at $21,733,000 after purchasing an additional 220,515 shares in the last quarter. 77.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Service Properties Trust Price Performance

NASDAQ:SVC opened at $6.22 on Friday. The company has a 50 day moving average price of $6.70 and a 200-day moving average price of $7.37. Service Properties Trust has a 1-year low of $5.92 and a 1-year high of $9.39. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -31.10 and a beta of 2.18. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.09 and a quick ratio of 0.09.

Service Properties Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $0.80 dividend on an annualized basis and a yield of 12.86%. Service Properties Trust’s dividend payout ratio is currently -400.00%.

Service Properties Trust Company Profile

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of December 31, 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.