ExodusPoint Capital Management LP Buys Shares of 504,699 Service Properties Trust (NASDAQ:SVC)

ExodusPoint Capital Management LP bought a new stake in Service Properties Trust (NASDAQ:SVC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 504,699 shares of the real estate investment trust's stock, valued at approximately $1,282,000. ExodusPoint Capital Management LP owned about 0.30% of Service Properties Trust as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Service Properties Trust by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,563,212 shares of the real estate investment trust's stock worth $11,593,000 after buying an additional 53,389 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Service Properties Trust during the fourth quarter worth about $828,000. JPMorgan Chase & Co. lifted its position in Service Properties Trust by 110.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,043,171 shares of the real estate investment trust's stock valued at $2,650,000 after purchasing an additional 547,576 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Service Properties Trust in the 4th quarter valued at approximately $82,000. Finally, Sei Investments Co. increased its position in Service Properties Trust by 12.7% during the 4th quarter. Sei Investments Co. now owns 72,589 shares of the real estate investment trust's stock worth $185,000 after purchasing an additional 8,157 shares during the period. Institutional investors and hedge funds own 77.62% of the company's stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised Service Properties Trust from an "underweight" rating to an "overweight" rating and raised their price target for the company from $2.50 to $4.00 in a report on Wednesday, March 19th.

Service Properties Trust Price Performance

Shares of SVC traded up $0.03 during trading hours on Tuesday, reaching $1.90. The company had a trading volume of 655,075 shares, compared to its average volume of 2,033,824. 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 $6.55. The firm has a 50 day simple moving average of $2.56 and a 200-day simple moving average of $2.90. The company has a market capitalization of $315.78 million, a price-to-earnings ratio of -1.29 and a beta of 1.80.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 2.11%. Service Properties Trust's dividend payout ratio (DPR) is presently -2.40%.

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.