Congress Wealth Management LLC DE Lowers Position in Service Properties Trust (NASDAQ:SVC)

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

Several other large investors also recently modified their holdings of SVC. 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. Geode Capital Management LLC grew its position in shares of Service Properties Trust by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,509,823 shares of the real estate investment trust's stock worth $20,568,000 after buying an additional 151,234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Service Properties Trust by 395.3% in the 3rd 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 acquiring an additional 828,765 shares in the last quarter. Whitebox Advisors LLC lifted its position in shares of Service Properties Trust by 4.9% during the 3rd quarter. Whitebox Advisors LLC now owns 640,602 shares of the real estate investment trust's stock valued at $2,921,000 after acquiring an additional 30,000 shares during the period. Finally, Readystate Asset Management LP boosted its stake in Service Properties Trust by 32.2% during the third quarter. Readystate Asset Management LP now owns 594,436 shares of the real estate investment trust's stock worth $2,711,000 after acquiring an additional 144,782 shares in the last quarter. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Service Properties Trust Stock Performance

Shares of NASDAQ SVC remained flat at $2.61 during midday trading on Tuesday. The stock had a trading volume of 1,396,691 shares, compared to its average volume of 1,951,356. 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 52-week low of $2.29 and a 52-week high of $6.85. The company's 50 day moving average is $2.73 and its 200 day moving average is $3.10. The company has a market capitalization of $434.92 million, a P/E ratio of -1.78 and a beta of 2.21.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were paid 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 1.53%. 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.