Rhumbline Advisers Has $748,000 Position in Service Properties Trust (NASDAQ:SVC)

Rhumbline Advisers reduced its position in shares of Service Properties Trust (NASDAQ:SVC) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,486 shares of the real estate investment trust’s stock after selling 6,937 shares during the period. Rhumbline Advisers owned about 0.17% of Service Properties Trust worth $748,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in Service Properties Trust by 87.1% during the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 4,942 shares during the last quarter. Tidal Investments LLC bought a new stake in Service Properties Trust in the fourth quarter valued at approximately $33,000. Cibc World Markets Corp bought a new stake in Service Properties Trust in the fourth quarter valued at approximately $39,000. Corient Private Wealth LLC bought a new stake in Service Properties Trust in the fourth quarter valued at approximately $41,000. Finally, Boothbay Fund Management LLC bought a new stake in Service Properties Trust in the fourth quarter valued at approximately $48,000. 77.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on SVC shares. Wells Fargo & Company upgraded Service Properties Trust from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $2.50 to $4.00 in a research note on Wednesday, March 19th. B. Riley started coverage on Service Properties Trust in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $2.00 price objective on the stock.

Service Properties Trust Price Performance

NASDAQ:SVC opened at $2.43 on Friday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 5.48. The stock’s 50 day moving average price is $2.14 and its two-hundred day moving average price is $2.44. The firm has a market capitalization of $404.94 million, a price-to-earnings ratio of -1.29 and a beta of 1.87. 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 earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $435.18 million for the quarter, compared to analyst estimates of $433.21 million. Service Properties Trust had a negative return on equity of 35.59% and a negative net margin of 16.54%.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.65%. Service Properties Trust’s dividend payout ratio (DPR) is currently -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.