KLP Kapitalforvaltning AS Purchases 45,200 Shares of Service Properties Trust (NASDAQ:SVC)

KLP Kapitalforvaltning AS boosted its position in shares of Service Properties Trust (NASDAQ:SVC) by 139.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,500 shares of the real estate investment trust’s stock after acquiring an additional 45,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Service Properties Trust were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Nantahala Capital Management LLC purchased a new position in shares of Service Properties Trust during the 4th quarter worth $20,553,000. Capital Management Corp VA lifted its position in Service Properties Trust by 37.5% during the first quarter. Capital Management Corp VA now owns 5,666,165 shares of the real estate investment trust’s stock valued at $14,789,000 after purchasing an additional 1,544,548 shares in the last quarter. Geode Capital Management LLC lifted its position in Service Properties Trust by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,563,212 shares of the real estate investment trust’s stock valued at $11,593,000 after purchasing an additional 53,389 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Service Properties Trust during the fourth quarter valued at about $6,900,000. Finally, Jane Street Group LLC grew its holdings in Service Properties Trust by 2,999.1% during the fourth quarter. Jane Street Group LLC now owns 2,518,890 shares of the real estate investment trust’s stock valued at $6,398,000 after purchasing an additional 2,437,613 shares during the period. Institutional investors own 77.62% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley assumed 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 $2.63 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 5.48. Service Properties Trust has a 12 month low of $1.71 and a 12 month high of $5.88. The stock has a market cap of $438.26 million, a price-to-earnings ratio of -1.39 and a beta of 1.86. The company’s 50 day moving average is $2.54 and its two-hundred day moving average is $2.46.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $435.18 million during the quarter, compared to analysts’ expectations of $433.21 million.

Service Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, July 21st will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, July 21st. Service Properties Trust’s payout ratio is presently -2.12%.

About Service Properties Trust

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.