Bank of New York Mellon Corp Has $1.63 Million Stock Position in Service Properties Trust (NASDAQ:SVC)

Bank of New York Mellon Corp lowered its stake in Service Properties Trust (NASDAQ:SVC - Free Report) by 58.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 640,743 shares of the real estate investment trust's stock after selling 890,090 shares during the period. Bank of New York Mellon Corp owned 0.38% of Service Properties Trust worth $1,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SVC. Y Intercept Hong Kong Ltd increased its stake 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 valued at $1,502,000 after buying an additional 575,754 shares during the period. Wolverine Asset Management LLC increased its position in Service Properties Trust by 300.5% in the 4th quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust's stock valued at $444,000 after acquiring an additional 131,237 shares during the period. Empowered Funds LLC bought a new position in shares of Service Properties Trust during the fourth quarter valued at $96,000. EMC Capital Management raised its stake in shares of Service Properties Trust by 1,031.3% during the fourth quarter. EMC Capital Management now owns 24,459 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 22,297 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Service Properties Trust by 140.6% during the fourth quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 11,491 shares during the period. Institutional investors own 77.62% of the company's stock.

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Service Properties Trust Trading Up 0.4 %

NASDAQ:SVC traded up $0.01 on Wednesday, reaching $2.77. 1,001,121 shares of the stock traded hands, compared to its average volume of 1,877,447. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a 1-year low of $2.29 and a 1-year high of $6.85. The company's 50 day moving average is $2.73 and its 200-day moving average is $3.16. The firm has a market capitalization of $461.58 million, a price-to-earnings ratio of -1.88 and a beta of 2.21.

Service Properties Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, January 27th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Monday, January 27th. Service Properties Trust's dividend payout ratio (DPR) is presently -2.40%.

Analyst Ratings Changes

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

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.