Charles Schwab Investment Management Inc. Grows Position in Service Properties Trust (NASDAQ:SVC)

Charles Schwab Investment Management Inc. increased its position in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,554,256 shares of the real estate investment trust's stock after acquiring an additional 1,259,382 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 4.53% of Service Properties Trust worth $19,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Service Properties Trust by 3.5% in the third quarter. Geode Capital Management LLC now owns 4,509,823 shares of the real estate investment trust's stock valued at $20,568,000 after buying an additional 151,234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Service Properties Trust by 395.3% in 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 buying an additional 828,765 shares during the last quarter. Whitebox Advisors LLC lifted its position in Service Properties Trust by 4.9% in the third quarter. Whitebox Advisors LLC now owns 640,602 shares of the real estate investment trust's stock valued at $2,921,000 after buying an additional 30,000 shares during the last quarter. Readystate Asset Management LP lifted its position in Service Properties Trust by 32.2% in the third quarter. Readystate Asset Management LP now owns 594,436 shares of the real estate investment trust's stock valued at $2,711,000 after buying an additional 144,782 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in 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 valued at $1,502,000 after buying an additional 575,754 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company's stock.

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Service Properties Trust Trading Down 4.4 %

NASDAQ SVC traded down $0.13 during trading hours on Friday, reaching $2.81. The company had a trading volume of 3,694,809 shares, compared to its average volume of 1,874,945. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $468.25 million, a P/E ratio of -1.91 and a beta of 2.21. The stock has a 50-day moving average of $2.72 and a 200 day moving average of $3.20. Service Properties Trust has a 1-year low of $2.29 and a 1-year high of $6.85.

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 of this dividend was Monday, January 27th. This represents a $0.04 dividend on an annualized basis and a yield of 1.42%. Service Properties Trust's dividend payout ratio (DPR) is presently -2.40%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised shares of 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 research report on Wednesday.

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.