Arrowstreet Capital Limited Partnership Purchases New Shares in Service Properties Trust (NASDAQ:SVC)

Arrowstreet Capital Limited Partnership bought a new stake in shares of Service Properties Trust (NASDAQ:SVC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 325,850 shares of the real estate investment trust's stock, valued at approximately $828,000. Arrowstreet Capital Limited Partnership owned 0.20% of Service Properties Trust as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Service Properties Trust by 20.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust's stock worth $19,188,000 after purchasing an additional 1,259,382 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Service Properties Trust by 3,721.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 591,225 shares of the real estate investment trust's stock valued at $1,502,000 after acquiring an additional 575,754 shares during the period. JPMorgan Chase & Co. boosted its stake in Service Properties Trust by 110.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,043,171 shares of the real estate investment trust's stock worth $2,650,000 after acquiring an additional 547,576 shares in the last quarter. Versor Investments LP bought a new stake in Service Properties Trust in the fourth quarter valued at $561,000. Finally, Barclays PLC boosted its position in shares of Service Properties Trust by 310.6% during the 3rd quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust's stock worth $1,279,000 after purchasing an additional 212,130 shares in the last quarter. Institutional investors own 77.62% of the company's stock.

Wall Street Analysts Forecast Growth

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

Service Properties Trust Stock Up 2.4 %

Shares of Service Properties Trust stock traded up $0.05 during trading hours on Thursday, reaching $1.91. The company's stock had a trading volume of 779,186 shares, compared to its average volume of 2,041,986. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. Service Properties Trust has a one year low of $1.71 and a one year high of $6.42. The company has a market capitalization of $317.44 million, a P/E ratio of -1.30 and a beta of 1.80. The stock's fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $2.88.

Service Properties Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders 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 dividend yield of 2.10%. Service Properties Trust's dividend payout ratio 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.