Capital Management Corp VA Buys 453,944 Shares of Service Properties Trust (NASDAQ:SVC)

Capital Management Corp VA raised its stake in Service Properties Trust (NASDAQ:SVC - Free Report) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,174,563 shares of the real estate investment trust's stock after purchasing an additional 453,944 shares during the period. Service Properties Trust comprises 4.2% of Capital Management Corp VA's investment portfolio, making the stock its 5th biggest position. Capital Management Corp VA owned approximately 3.12% of Service Properties Trust worth $23,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in SVC. Daiwa Securities Group Inc. boosted its holdings in Service Properties Trust by 7.1% in the first quarter. Daiwa Securities Group Inc. now owns 54,003 shares of the real estate investment trust's stock valued at $366,000 after purchasing an additional 3,601 shares in the last quarter. GSA Capital Partners LLP grew its position in Service Properties Trust by 246.0% during the 1st quarter. GSA Capital Partners LLP now owns 152,710 shares of the real estate investment trust's stock worth $1,035,000 after purchasing an additional 108,575 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Service Properties Trust by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust's stock valued at $984,000 after buying an additional 2,476 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Service Properties Trust by 8.6% during the first quarter. Illinois Municipal Retirement Fund now owns 100,377 shares of the real estate investment trust's stock worth $681,000 after buying an additional 7,939 shares during the period. Finally, NorthRock Partners LLC purchased a new position in shares of Service Properties Trust during the first quarter worth about $75,000. Hedge funds and other institutional investors own 77.62% of the company's stock.

Service Properties Trust Stock Performance

NASDAQ SVC traded down $0.07 during trading hours on Tuesday, hitting $2.96. The company had a trading volume of 2,707,860 shares, compared to its average volume of 1,231,084. Service Properties Trust has a fifty-two week low of $2.93 and a fifty-two week high of $8.72. The firm has a market cap of $491.03 million, a P/E ratio of -2.48 and a beta of 2.23. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 3.98. The business has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $5.00.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.94). Service Properties Trust had a negative net margin of 10.56% and a negative return on equity of 17.17%. The firm had revenue of $512.95 million during the quarter, compared to analyst estimates of $509.33 million. During the same quarter in the previous year, the business posted $0.58 EPS. Equities analysts predict that Service Properties Trust will post 1.21 EPS for the current year.

Service Properties Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, October 28th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 annualized dividend and a yield of 1.35%. Service Properties Trust's payout ratio is -3.28%.

Analysts Set New Price Targets

A number of analysts have issued reports on SVC shares. B. Riley decreased their price target on Service Properties Trust from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company cut their price objective on shares of Service Properties Trust from $5.00 to $4.00 and set an "underweight" rating on the stock in a report on Friday, September 13th.

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.