M&T Bank Corp Increases Position in Service Properties Trust (NASDAQ:SVC)

M&T Bank Corp increased its stake in Service Properties Trust (NASDAQ:SVC) by 121.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,868 shares of the real estate investment trust’s stock after acquiring an additional 21,320 shares during the period. M&T Bank Corp’s holdings in Service Properties Trust were worth $101,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in Service Properties Trust in the first quarter worth about $65,000. Bank of America Corp DE increased its stake in shares of Service Properties Trust by 140.3% during the fourth quarter. Bank of America Corp DE now owns 440,652 shares of the real estate investment trust’s stock valued at $1,119,000 after purchasing an additional 257,260 shares in the last quarter. Millennium Management LLC increased its stake in shares of Service Properties Trust by 279.7% during the fourth quarter. Millennium Management LLC now owns 1,858,949 shares of the real estate investment trust’s stock valued at $4,722,000 after purchasing an additional 1,369,306 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Service Properties Trust by 805.0% during the fourth quarter. Two Sigma Advisers LP now owns 400,900 shares of the real estate investment trust’s stock valued at $1,018,000 after purchasing an additional 356,600 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Service Properties Trust during the fourth quarter valued at approximately $828,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, B. Riley started 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 target for the company.

Service Properties Trust Trading Down 1.9%

Shares of Service Properties Trust stock opened at $2.61 on Friday. The stock has a market capitalization of $434.93 million, a PE ratio of -1.38 and a beta of 1.86. Service Properties Trust has a 1-year low of $1.71 and a 1-year high of $5.90. The company’s fifty day simple moving average is $2.42 and its 200-day simple moving average is $2.44. The company has a debt-to-equity ratio of 5.48, a current ratio of 0.04 and a quick ratio of 0.04.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Service Properties Trust had a negative net margin of 16.54% and a negative return on equity of 35.59%. The company had revenue of $435.18 million for the quarter, compared to the consensus estimate of $433.21 million.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, July 21st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.04 dividend on an annualized basis and a yield of 1.53%. Service Properties Trust’s payout ratio is -2.12%.

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.