JPMorgan Chase & Co. Raises Stock Holdings in Service Properties Trust (NASDAQ:SVC)

JPMorgan Chase & Co. boosted its holdings in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 110.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,043,171 shares of the real estate investment trust's stock after purchasing an additional 547,576 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.63% of Service Properties Trust worth $2,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SVC. Cibc World Markets Corp acquired a new stake in shares of Service Properties Trust during the fourth quarter worth approximately $39,000. Corient Private Wealth LLC acquired a new stake in Service Properties Trust in the fourth quarter valued at $41,000. KBC Group NV boosted its stake in Service Properties Trust by 140.6% during the 4th quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 11,491 shares during the last quarter. EMC Capital Management grew its holdings in Service Properties Trust by 1,031.3% during the 4th quarter. EMC Capital Management now owns 24,459 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 22,297 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Service Properties Trust in the 4th quarter worth about $82,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Service Properties Trust Stock Performance

Shares of SVC opened at $1.81 on Wednesday. The stock has a market capitalization of $301.61 million, a PE ratio of -1.23 and a beta of 1.80. The business's fifty day moving average price is $2.45 and its 200 day moving average price is $2.79. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $6.42.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd will be given 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 2.21%. Service Properties Trust's payout ratio is currently -2.40%.

Analyst Ratings Changes

SVC has been the topic of several research analyst reports. B. Riley started coverage on shares of Service Properties Trust in a research report on Tuesday. They set a "neutral" rating and a $2.00 price target on the stock. Wells Fargo & Company upgraded 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 research note 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.

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