Prudential Financial Inc. Sells 264,090 Shares of Service Properties Trust (NASDAQ:SVC)

Prudential Financial Inc. decreased its position in Service Properties Trust (NASDAQ:SVC - Free Report) by 72.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,138 shares of the real estate investment trust's stock after selling 264,090 shares during the period. Prudential Financial Inc. owned about 0.06% of Service Properties Trust worth $259,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SVC. Charles Schwab Investment Management Inc. boosted its holdings in Service Properties Trust by 20.0% in 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 buying an additional 1,259,382 shares during the period. Geode Capital Management LLC raised its position in Service Properties Trust by 3.5% in 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 purchasing an additional 151,234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Service Properties Trust by 395.3% during 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 during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Service Properties Trust by 3,721.5% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 591,225 shares of the real estate investment trust's stock worth $1,502,000 after purchasing an additional 575,754 shares during the last quarter. Finally, CM Management LLC increased its position in shares of Service Properties Trust by 50.0% in the fourth quarter. CM Management LLC now owns 450,000 shares of the real estate investment trust's stock valued at $1,143,000 after acquiring an additional 150,000 shares during the period. 77.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Service Properties Trust Stock Up 1.3 %

NASDAQ SVC traded up $0.03 during mid-day trading on Wednesday, reaching $1.90. The stock had a trading volume of 133,230 shares, compared to its average volume of 2,037,246. Service Properties Trust has a 1 year low of $1.71 and a 1 year high of $6.44. The company has a fifty day moving average price of $2.54 and a 200 day moving average price of $2.89. The stock has a market cap of $315.78 million, a PE ratio of -1.28 and a beta of 1.80. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, April 22nd. Service Properties Trust's dividend payout ratio (DPR) is presently -2.40%.

Service Properties Trust 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.