Rhumbline Advisers Sells 19,521 Shares of Service Properties Trust (NASDAQ:SVC)

Rhumbline Advisers lowered its position in shares of Service Properties Trust (NASDAQ:SVC) by 3.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 553,828 shares of the real estate investment trust’s stock after selling 19,521 shares during the quarter. Rhumbline Advisers owned 0.33% of Service Properties Trust worth $2,847,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Service Properties Trust in the 4th quarter valued at $9,333,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $23,896,000 after purchasing an additional 91,272 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Service Properties Trust by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock valued at $984,000 after purchasing an additional 2,476 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Service Properties Trust by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 100,570 shares of the real estate investment trust’s stock worth $682,000 after buying an additional 5,948 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Service Properties Trust by 1.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 188,400 shares of the real estate investment trust’s stock worth $1,609,000 after buying an additional 2,900 shares in the last quarter. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Stock Up 0.9 %

SVC stock opened at $4.65 on Thursday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 3.98. Service Properties Trust has a 52 week low of $4.26 and a 52 week high of $8.72. The company has a market cap of $770.78 million, a PE ratio of -5.54 and a beta of 2.20. The business has a 50-day simple moving average of $4.98 and a 200 day simple moving average of $5.55.

Service Properties Trust (NASDAQ:SVC) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.94). The firm had revenue of $512.95 million for the quarter, compared to analyst estimates of $509.33 million. Service Properties Trust had a negative return on equity of 17.17% and a negative net margin of 10.56%. During the same quarter in the prior year, the business posted $0.58 EPS. Sell-side analysts anticipate that Service Properties Trust will post 1.21 EPS for the current fiscal year.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd were paid a $0.20 dividend. The ex-dividend date was Monday, July 22nd. This represents a $0.80 annualized dividend and a dividend yield of 17.20%. Service Properties Trust’s payout ratio is -95.24%.

Analysts Set New Price Targets

SVC has been the subject of several research reports. B. Riley decreased their price target on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company decreased their target price on shares of Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Friday, September 13th.

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.