Charles Schwab Investment Management Inc. raised its stake in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 10.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 6,294,874 shares of the real estate investment trust's stock after purchasing an additional 616,718 shares during the period. Charles Schwab Investment Management Inc. owned 3.78% of Service Properties Trust worth $28,705,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Capital Management Corp VA grew its holdings in Service Properties Trust by 9.6% during the third quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust's stock valued at $23,596,000 after purchasing an additional 453,944 shares during the period. Whitebox Advisors LLC lifted its position in shares of Service Properties Trust by 167.7% in the second quarter. Whitebox Advisors LLC now owns 610,602 shares of the real estate investment trust's stock valued at $3,138,000 after acquiring an additional 382,502 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Service Properties Trust by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 100,570 shares of the real estate investment trust's stock valued at $682,000 after acquiring an additional 5,948 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Service Properties Trust by 17.3% in the third quarter. Intech Investment Management LLC now owns 67,969 shares of the real estate investment trust's stock valued at $310,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Service Properties Trust in the second quarter valued at about $68,000. Institutional investors own 77.62% of the company's stock.
Service Properties Trust Stock Down 2.5 %
Shares of NASDAQ:SVC traded down $0.07 during mid-day trading on Thursday, reaching $2.74. The stock had a trading volume of 3,981,160 shares, compared to its average volume of 1,344,850. 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 1 year low of $2.47 and a 1 year high of $8.72. The business's 50 day moving average price is $3.56 and its 200 day moving average price is $4.53.
Service Properties Trust (NASDAQ:SVC - Get Free Report) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.65). The firm had revenue of $491.17 million during the quarter, compared to analysts' expectations of $497.97 million. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Sell-side analysts expect that Service Properties Trust will post 1.13 EPS for the current fiscal year.
Service Properties Trust Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.46%. Service Properties Trust's dividend payout ratio is currently -2.72%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. B. Riley lowered their price objective on Service Properties Trust from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Wells Fargo & Company lowered their price objective on Service Properties Trust from $4.00 to $3.00 and set an "underweight" rating on the stock in a research report on Tuesday, November 26th.
View Our Latest Stock Analysis on SVC
Service Properties Trust Profile
(
Free Report)
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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