Service Properties Trust (NASDAQ:SVC) Stake Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Service Properties Trust (NASDAQ:SVC) by 54.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 322,544 shares of the real estate investment trust’s stock after acquiring an additional 113,878 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.19% of Service Properties Trust worth $2,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SVC. Norges Bank acquired a new position in shares of Service Properties Trust during the 4th quarter valued at $9,333,000. Capital Management Corp VA raised its position in Service Properties Trust by 14.8% in the fourth quarter. Capital Management Corp VA now owns 3,243,310 shares of the real estate investment trust’s stock worth $27,698,000 after acquiring an additional 417,225 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Service Properties Trust by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,798,087 shares of the real estate investment trust’s stock worth $23,896,000 after acquiring an additional 91,272 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Service Properties Trust by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 23,113 shares of the real estate investment trust’s stock valued at $197,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Service Properties Trust by 8.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 237,412 shares of the real estate investment trust’s stock valued at $1,826,000 after purchasing an additional 17,624 shares in the last quarter. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Price Performance

NASDAQ SVC remained flat at $5.01 on Tuesday. 66,142 shares of the company’s stock traded hands, compared to its average volume of 1,020,188. Service Properties Trust has a 12-month low of $4.81 and a 12-month high of $9.39. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $830.46 million, a P/E ratio of -5.99 and a beta of 2.21. The business’s 50-day moving average price is $5.49 and its 200-day moving average price is $6.72.

Service Properties Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 15.97%. The ex-dividend date was Friday, April 19th. Service Properties Trust’s dividend payout ratio is currently -95.24%.

Analyst Upgrades and Downgrades

SVC has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating for the company in a research note on Thursday, March 21st. B. Riley cut their price target on shares of Service Properties Trust from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, May 13th.

Service Properties Trust Company 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.