International Assets Investment Management LLC Raises Position in Service Properties Trust (NASDAQ:SVC)

International Assets Investment Management LLC increased its holdings in Service Properties Trust (NASDAQ:SVC) by 3,261.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,535 shares of the real estate investment trust’s stock after purchasing an additional 35,448 shares during the quarter. International Assets Investment Management LLC’s holdings in Service Properties Trust were worth $167,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Xponance Inc. purchased a new position in shares of Service Properties Trust in the second quarter valued at about $53,000. Choreo LLC purchased a new position in shares of Service Properties Trust in the second quarter valued at about $54,000. Sequoia Financial Advisors LLC purchased a new position in shares of Service Properties Trust in the second quarter valued at about $68,000. Family Wealth Partners LLC purchased a new position in shares of Service Properties Trust in the third quarter valued at about $69,000. Finally, NorthRock Partners LLC bought a new stake in shares of Service Properties Trust during the 1st quarter valued at about $75,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Service Properties Trust Stock Performance

Shares of SVC opened at $3.31 on Thursday. The firm’s 50-day moving average price is $4.30 and its 200-day moving average price is $4.97. 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 1-year low of $2.93 and a 1-year high of $8.72.

Service Properties Trust (NASDAQ:SVC) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.94). The company had revenue of $512.95 million for the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.58 EPS. As a group, equities analysts expect that Service Properties Trust will post 1.21 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.21%. Service Properties Trust’s payout ratio is -3.28%.

Analyst Upgrades and Downgrades

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