Texas Permanent School Fund Corp Purchases 36,963 Shares of Service Properties Trust (NASDAQ:SVC)

Texas Permanent School Fund Corp grew its position in Service Properties Trust (NASDAQ:SVC) by 25.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,043 shares of the real estate investment trust’s stock after purchasing an additional 36,963 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.11% of Service Properties Trust worth $936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Management Corp VA grew its position in shares of Service Properties Trust by 11.9% during the first quarter. Capital Management Corp VA now owns 3,630,775 shares of the real estate investment trust’s stock worth $24,617,000 after purchasing an additional 387,465 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Service Properties Trust by 3.4% in the 4th 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 purchasing an additional 91,272 shares during the period. Norges Bank purchased a new stake in Service Properties Trust during the 4th quarter valued at approximately $9,333,000. Principal Financial Group Inc. raised its position in shares of Service Properties Trust by 5.4% during the first quarter. Principal Financial Group Inc. now owns 910,440 shares of the real estate investment trust’s stock valued at $6,173,000 after buying an additional 46,417 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Service Properties Trust by 14.9% in the fourth quarter. Allianz Asset Management GmbH now owns 846,736 shares of the real estate investment trust’s stock worth $7,231,000 after buying an additional 109,732 shares in the last quarter. 77.62% of the stock is owned by hedge funds and other institutional investors.

Service Properties Trust Stock Down 1.2 %

Shares of SVC opened at $4.90 on Friday. The company has a debt-to-equity ratio of 3.98, a current ratio of 0.01 and a quick ratio of 0.01. The stock has a market capitalization of $812.22 million, a price-to-earnings ratio of -5.83 and a beta of 2.20. Service Properties Trust has a 1 year low of $4.26 and a 1 year high of $8.72. The business’s 50 day simple moving average is $4.96 and its 200-day simple moving average is $5.53.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.94). Service Properties Trust had a negative net margin of 10.56% and a negative return on equity of 17.17%. The business had revenue of $512.95 million for the quarter, compared to analysts’ expectations of $509.33 million. During the same period in the previous year, the company earned $0.58 EPS. As a group, equities analysts expect that Service Properties Trust will post 1.21 earnings per share for the current fiscal year.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 22nd were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 16.33%. The ex-dividend date of this dividend was Monday, July 22nd. Service Properties Trust’s payout ratio is -95.24%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. B. Riley cut their target price 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 dropped their price objective on shares of Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating for the company in a 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.