Louisiana State Employees Retirement System Invests $708,000 in Service Properties Trust (NASDAQ:SVC)

Louisiana State Employees Retirement System acquired a new position in shares of Service Properties Trust (NASDAQ:SVC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 82,900 shares of the real estate investment trust’s stock, valued at approximately $708,000. Louisiana State Employees Retirement System owned 0.05% of Service Properties Trust as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Management Corp VA raised its stake in Service Properties Trust by 8.5% during the third quarter. Capital Management Corp VA now owns 2,826,085 shares of the real estate investment trust’s stock worth $21,733,000 after acquiring an additional 220,515 shares during the period. Northern Trust Corp increased its stake in shares of Service Properties Trust by 18.6% in the third quarter. Northern Trust Corp now owns 2,511,244 shares of the real estate investment trust’s stock valued at $19,311,000 after purchasing an additional 393,555 shares during the period. Invesco Ltd. increased its stake in shares of Service Properties Trust by 15.3% in the third quarter. Invesco Ltd. now owns 2,310,176 shares of the real estate investment trust’s stock valued at $17,765,000 after purchasing an additional 307,236 shares during the period. AQR Capital Management LLC increased its stake in shares of Service Properties Trust by 108.0% in the third 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 during the period. Finally, Swiss National Bank increased its stake in shares of Service Properties Trust by 1.0% in the third quarter. Swiss National Bank now owns 363,688 shares of the real estate investment trust’s stock valued at $2,797,000 after purchasing an additional 3,500 shares during the period. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Price Performance

NASDAQ SVC opened at $6.23 on Friday. Service Properties Trust has a 12 month low of $5.92 and a 12 month high of $9.39. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $1.03 billion, a PE ratio of -31.13 and a beta of 2.18. The company’s 50 day simple moving average is $6.67 and its 200 day simple moving average is $7.36.

Service Properties Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.85%. Service Properties Trust’s dividend payout ratio is presently -400.00%.

Wall Street Analysts Forecast Growth

SVC has been the topic of several analyst reports. B. Riley dropped their price target on shares of Service Properties Trust from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Wells Fargo & Company dropped their price target on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a research note on Thursday, March 21st.

Service Properties Trust 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.