Handelsbanken Fonder AB Boosts Holdings in Service Properties Trust (NASDAQ:SVC)

Handelsbanken Fonder AB raised its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,400 shares of the real estate investment trust’s stock after buying an additional 2,300 shares during the period. Handelsbanken Fonder AB’s holdings in Service Properties Trust were worth $302,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SVC. Capital Management Corp VA lifted its position in shares of Service Properties Trust by 14.8% during the 4th quarter. Capital Management Corp VA now owns 3,243,310 shares of the real estate investment trust’s stock valued at $27,698,000 after buying an additional 417,225 shares in the last quarter. Northern Trust Corp boosted its position 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 worth $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 worth $17,765,000 after purchasing an additional 307,236 shares in the last quarter. 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 worth $4,883,000 after purchasing an additional 329,690 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Service Properties Trust by 1.0% during the 3rd 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. 77.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Service Properties Trust Price Performance

Shares of NASDAQ:SVC opened at $6.05 on Friday. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -30.25 and a beta of 2.17. The firm has a fifty day moving average price of $6.55 and a 200 day moving average price of $7.32. Service Properties Trust has a fifty-two week low of $5.90 and a fifty-two week high of $9.39. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be given 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 dividend yield of 13.22%. 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.