UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 395.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,038,410 shares of the real estate investment trust's stock after buying an additional 828,765 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.62% of Service Properties Trust worth $4,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of SVC. Van ECK Associates Corp lifted its holdings in Service Properties Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 28,352 shares of the real estate investment trust's stock worth $129,000 after purchasing an additional 3,112 shares in the last quarter. King Luther Capital Management Corp grew its stake in Service Properties Trust by 13.0% during the second quarter. King Luther Capital Management Corp now owns 27,115 shares of the real estate investment trust's stock valued at $139,000 after acquiring an additional 3,115 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Service Properties Trust by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,140 shares of the real estate investment trust's stock valued at $438,000 after acquiring an additional 3,122 shares during the last quarter. abrdn plc lifted its stake in Service Properties Trust by 10.5% in the 3rd quarter. abrdn plc now owns 33,919 shares of the real estate investment trust's stock worth $155,000 after purchasing an additional 3,236 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Service Properties Trust by 1.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 247,449 shares of the real estate investment trust's stock valued at $1,128,000 after purchasing an additional 3,594 shares during the last quarter. 77.62% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Wells Fargo & Company cut their target price on Service Properties Trust from $3.00 to $2.75 and set an "underweight" rating on the stock in a research report on Monday.
Check Out Our Latest Research Report on SVC
Service Properties Trust Price Performance
Shares of NASDAQ:SVC traded down $0.02 during midday trading on Thursday, hitting $2.59. The company's stock had a trading volume of 3,731,460 shares, compared to its average volume of 1,408,069. Service Properties Trust has a 12-month low of $2.47 and a 12-month high of $8.72. The company has a market cap of $431.62 million, a P/E ratio of -1.76 and a beta of 2.19. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The business's 50 day simple moving average is $3.32 and its 200 day simple moving average is $4.42.
Service Properties Trust (NASDAQ:SVC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.65). The company had revenue of $491.17 million for 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 period last year, the business earned $0.56 EPS. On average, analysts forecast that Service Properties Trust will post 1.13 EPS for the current year.
Service Properties Trust Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Monday, October 28th. Service Properties Trust's payout ratio is currently -2.72%.
Service Properties Trust Company Profile
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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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