Congress Wealth Management LLC DE Sells 209,088 Shares of Service Properties Trust (NASDAQ:SVC)

Congress Wealth Management LLC DE reduced its position in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 28.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 535,022 shares of the real estate investment trust's stock after selling 209,088 shares during the period. Congress Wealth Management LLC DE owned approximately 0.32% of Service Properties Trust worth $1,359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Service Properties Trust by 20.0% during the 4th 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 acquiring an additional 1,259,382 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Service Properties Trust by 395.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,038,410 shares of the real estate investment trust's stock valued at $4,735,000 after purchasing an additional 828,765 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Service Properties Trust by 3,721.5% during the fourth 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 purchasing an additional 575,754 shares during the last quarter. Versor Investments LP acquired a new position in shares of Service Properties Trust in the 4th quarter valued at $561,000. Finally, Barclays PLC increased its stake in Service Properties Trust by 310.6% in 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. 77.62% of the stock is currently owned by institutional investors.

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Service Properties Trust Stock Down 2.1 %

Shares of SVC traded down $0.06 during mid-day trading on Monday, reaching $2.58. The company's stock had a trading volume of 356,751 shares, compared to its average volume of 1,942,176. Service Properties Trust has a 1 year low of $2.29 and a 1 year high of $6.85. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The company has a market cap of $429.09 million, a price-to-earnings ratio of -1.75 and a beta of 2.21. The business has a fifty day moving average of $2.73 and a 200 day moving average of $3.13.

Service Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were given a dividend of $0.01 per share. The ex-dividend date was Monday, January 27th. This represents a $0.04 dividend on an annualized basis and a yield of 1.55%. Service Properties Trust's payout ratio is presently -2.40%.

Analyst Upgrades and Downgrades

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

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.