Geode Capital Management LLC Has $11.59 Million Position in Service Properties Trust (NASDAQ:SVC)

Geode Capital Management LLC lifted its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,563,212 shares of the real estate investment trust’s stock after acquiring an additional 53,389 shares during the quarter. Geode Capital Management LLC owned approximately 2.74% of Service Properties Trust worth $11,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Service Properties Trust by 20.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust’s stock valued at $19,188,000 after buying an additional 1,259,382 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Service Properties Trust by 110.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,043,171 shares of the real estate investment trust’s stock valued at $2,650,000 after buying an additional 547,576 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Service Properties Trust by 3,721.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 591,225 shares of the real estate investment trust’s stock valued at $1,502,000 after purchasing an additional 575,754 shares in the last quarter. CM Management LLC raised its stake in shares of Service Properties Trust by 50.0% during the fourth quarter. CM Management LLC now owns 450,000 shares of the real estate investment trust’s stock valued at $1,143,000 after acquiring an additional 150,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Service Properties Trust during the 4th quarter worth $828,000. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Service Properties Trust Price Performance

SVC stock opened at $1.83 on Tuesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. Service Properties Trust has a fifty-two week low of $1.71 and a fifty-two week high of $6.42. The stock’s 50 day simple moving average is $2.47 and its 200 day simple moving average is $2.80. The company has a market cap of $304.95 million, a P/E ratio of -1.24 and a beta of 1.80.

Service Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, April 22nd. Service Properties Trust’s dividend payout ratio is currently -2.40%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded shares of Service Properties Trust from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $2.50 to $4.00 in a report on Wednesday, March 19th.

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.