Vanguard Group Inc. Sells 273,821 Shares of Service Properties Trust (NASDAQ:SVC)

Vanguard Group Inc. trimmed its position in shares of Service Properties Trust (NASDAQ:SVCFree Report) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,657,676 shares of the real estate investment trust’s stock after selling 273,821 shares during the period. Vanguard Group Inc. owned approximately 16.08% of Service Properties Trust worth $204,998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund bought a new stake in shares of Service Properties Trust in the 3rd quarter valued at approximately $776,000. Citigroup Inc. grew its stake in shares of Service Properties Trust by 194.7% in the 2nd quarter. Citigroup Inc. now owns 245,757 shares of the real estate investment trust’s stock valued at $2,136,000 after purchasing an additional 162,362 shares during the period. AQR Capital Management LLC grew its stake in shares of Service Properties Trust by 108.0% in the 3rd quarter. AQR Capital Management LLC now owns 635,044 shares of the real estate investment trust’s stock valued at $4,883,000 after purchasing an additional 329,690 shares during the period. Graham Capital Management L.P. grew its stake in shares of Service Properties Trust by 188.2% in the 3rd quarter. Graham Capital Management L.P. now owns 55,159 shares of the real estate investment trust’s stock valued at $424,000 after purchasing an additional 36,022 shares during the period. Finally, Capital Management Corp VA grew its stake in shares of Service Properties Trust by 8.5% in the 3rd quarter. Capital Management Corp VA now owns 2,826,085 shares of the real estate investment trust’s stock valued at $21,733,000 after purchasing an additional 220,515 shares during the period. 77.62% of the stock is currently owned by institutional investors.

Service Properties Trust Stock Up 0.9 %

Shares of SVC opened at $6.78 on Friday. The company has a market capitalization of $1.12 billion, a P/E ratio of -33.90 and a beta of 2.18. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.09 and a quick ratio of 0.09. Service Properties Trust has a one year low of $6.31 and a one year high of $10.20. The business’s 50 day simple moving average is $7.20 and its 200-day simple moving average is $7.52.

Service Properties Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, January 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 11.80%. The ex-dividend date was Friday, January 19th. Service Properties Trust’s dividend payout ratio is -400.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SVC. B. Riley lowered their price objective on Service Properties Trust from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Wells Fargo & Company reduced their target price on Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a report on Thursday, March 21st.

Get Our Latest Report on SVC

Service Properties Trust Profile

(Free Report)

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of September 30, 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.

See Also

Institutional Ownership by Quarter for Service Properties Trust (NASDAQ:SVC)

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