Service Properties Trust $SVC Position Reduced by LSV Asset Management

LSV Asset Management reduced its stake in shares of Service Properties Trust (NASDAQ:SVC) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,577,557 shares of the real estate investment trust’s stock after selling 498,728 shares during the period. LSV Asset Management owned about 1.54% of Service Properties Trust worth $6,985,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management LLC lifted its holdings in Service Properties Trust by 247.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 625,705 shares of the real estate investment trust’s stock worth $1,495,000 after buying an additional 445,866 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Service Properties Trust by 7.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,544,687 shares of the real estate investment trust’s stock valued at $6,082,000 after acquiring an additional 184,106 shares in the last quarter. Belvedere Trading LLC bought a new position in Service Properties Trust during the second quarter worth $73,000. Jefferies Financial Group Inc. bought a new position in Service Properties Trust during the second quarter worth $104,000. Finally, AQR Capital Management LLC boosted its holdings in Service Properties Trust by 30.8% in the first quarter. AQR Capital Management LLC now owns 1,346,098 shares of the real estate investment trust’s stock worth $3,446,000 after purchasing an additional 317,218 shares during the period. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Stock Performance

Shares of SVC opened at $2.21 on Monday. The firm has a fifty day moving average of $2.00 and a 200-day moving average of $2.23. The company has a market cap of $371.48 million, a price-to-earnings ratio of -1.32 and a beta of 1.46. The company has a debt-to-equity ratio of 5.68, a quick ratio of 0.17 and a current ratio of 0.17. Service Properties Trust has a 1 year low of $1.55 and a 1 year high of $3.08.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, January 26th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, January 26th. Service Properties Trust’s payout ratio is -2.40%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Service Properties Trust in a report on Thursday, January 22nd. Wells Fargo & Company lowered their price objective on shares of Service Properties Trust from $2.50 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, January 22nd. Finally, Zacks Research lowered shares of Service Properties Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $2.50.

Service Properties Trust Company Profile

Service Properties Trust (NASDAQ: SVC) is a real estate investment trust (REIT) specializing in the acquisition, ownership and leasing of service-oriented properties, with a primary focus on the lodging sector. The company structures long-term, triple-net leases with established hotel operators under franchise agreements with leading global brands. By partnering with recognized hotel companies, Service Properties Trust seeks to generate a stable income stream through rent payments, while offering operators the capital and balance-sheet flexibility to grow their portfolios.

Since its formation in 2010, Service Properties Trust has grown its portfolio through strategic sale-leaseback transactions, targeted property acquisitions and selective dispositions.