Ameriprise Financial Inc. Has $99,000 Holdings in Service Properties Trust (NASDAQ:SVC)

Ameriprise Financial Inc. lessened its position in shares of Service Properties Trust (NASDAQ:SVC) by 91.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 38,912 shares of the real estate investment trust’s stock after selling 401,155 shares during the quarter. Ameriprise Financial Inc.’s holdings in Service Properties Trust were worth $99,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Service Properties Trust by 20.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust’s stock worth $19,188,000 after buying an additional 1,259,382 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Service Properties Trust during the 4th quarter worth approximately $828,000. Wolverine Asset Management LLC grew its position in shares of Service Properties Trust by 300.5% during the 4th quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 131,237 shares during the period. Nantahala Capital Management LLC acquired a new stake in shares of Service Properties Trust during the 4th quarter worth approximately $20,553,000. Finally, CM Management LLC grew its position in shares of Service Properties Trust by 50.0% during the 4th quarter. CM Management LLC now owns 450,000 shares of the real estate investment trust’s stock worth $1,143,000 after buying an additional 150,000 shares during the period. Institutional investors and hedge funds own 77.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company raised shares of Service Properties Trust from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $2.50 to $4.00 in a research report on Wednesday, March 19th. B. Riley assumed coverage on shares of Service Properties Trust in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $2.00 price objective for the company.

Service Properties Trust Stock Performance

Shares of SVC stock opened at $2.35 on Friday. The firm has a market capitalization of $391.59 million, a PE ratio of -1.60 and a beta of 1.87. The firm has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $2.46. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a 12 month low of $1.71 and a 12 month high of $6.34.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $435.18 million during the quarter, compared to analyst estimates of $433.21 million. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 1.70%. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.12%.

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.