Voya Investment Management LLC Lowers Holdings in Service Properties Trust $SVC

Voya Investment Management LLC trimmed its holdings in Service Properties Trust (NASDAQ:SVC) by 10.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 44,923 shares of the real estate investment trust’s stock after selling 5,458 shares during the period. Voya Investment Management LLC’s holdings in Service Properties Trust were worth $117,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in Service Properties Trust in the first quarter worth approximately $29,000. Family Wealth Partners LLC purchased a new position in Service Properties Trust in the first quarter worth approximately $29,000. Signaturefd LLC grew its position in Service Properties Trust by 3,016.3% in the first quarter. Signaturefd LLC now owns 11,873 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 11,492 shares during the period. PNC Financial Services Group Inc. grew its position in Service Properties Trust by 160.2% in the first quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 9,562 shares during the period. Finally, Ballentine Partners LLC purchased a new position in Service Properties Trust in the first quarter worth approximately $43,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Service Properties Trust Stock Down 1.5%

Service Properties Trust stock opened at $2.67 on Thursday. Service Properties Trust has a 1-year low of $1.71 and a 1-year high of $4.93. The company has a debt-to-equity ratio of 5.79, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market cap of $445.52 million, a PE ratio of -1.60 and a beta of 1.88. The stock’s fifty day moving average is $2.71 and its two-hundred day moving average is $2.45.

Service Properties Trust (NASDAQ:SVC) last posted its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Service Properties Trust had a negative return on equity of 34.61% and a negative net margin of 14.73%.The company had revenue of $503.44 million for the quarter, compared to analysts’ expectations of $497.53 million.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, July 21st were paid a $0.01 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.04 dividend on an annualized basis and a yield of 1.5%. Service Properties Trust’s dividend payout ratio (DPR) is currently -2.40%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SVC. Wells Fargo & Company restated an “equal weight” rating and set a $2.50 price target (down from $3.00) on shares of Service Properties Trust in a research report on Wednesday, September 10th. B. Riley restated a “neutral” rating and set a $3.00 price target (up from $2.00) on shares of Service Properties Trust in a research report on Thursday, September 25th. Finally, Zacks Research lowered Service Properties Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $2.75.

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.