The Manufacturers Life Insurance Company Boosts Stock Position in Service Properties Trust (NASDAQ:SVC)

The Manufacturers Life Insurance Company grew its holdings in Service Properties Trust (NASDAQ:SVC) by 3.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,140 shares of the real estate investment trust’s stock after buying an additional 3,122 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Service Properties Trust worth $438,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC grew its holdings in Service Properties Trust by 137.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 5,928 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 3,436 shares in the last quarter. Xponance Inc. acquired a new position in Service Properties Trust during the 2nd quarter worth about $53,000. Choreo LLC acquired a new position in Service Properties Trust during the 2nd quarter worth about $54,000. NorthRock Partners LLC acquired a new position in Service Properties Trust during the 1st quarter worth about $75,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Service Properties Trust during the 2nd quarter worth about $68,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Service Properties Trust Stock Down 16.4 %

Service Properties Trust stock opened at $3.98 on Thursday. Service Properties Trust has a twelve month low of $3.77 and a twelve month high of $8.72. The stock has a 50 day moving average of $4.63 and a two-hundred day moving average of $5.29. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 3.98. The stock has a market capitalization of $659.72 million, a price-to-earnings ratio of -4.74 and a beta of 2.20.

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

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.