State Street Corp Sells 65,528 Shares of Service Properties Trust (NASDAQ:SVC)

State Street Corp cut its stake in shares of Service Properties Trust (NASDAQ:SVC) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,059,567 shares of the real estate investment trust’s stock after selling 65,528 shares during the quarter. State Street Corp owned approximately 5.44% of Service Properties Trust worth $41,312,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SVC. Van ECK Associates Corp raised its holdings in shares of Service Properties Trust by 12.3% during the third quarter. Van ECK Associates Corp now owns 28,352 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 3,112 shares during the period. King Luther Capital Management Corp raised its stake in Service Properties Trust by 13.0% during the 2nd quarter. King Luther Capital Management Corp now owns 27,115 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 3,115 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Service Properties Trust by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 85,140 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 3,122 shares in the last quarter. abrdn plc grew its stake in Service Properties Trust by 10.5% in the third quarter. abrdn plc now owns 33,919 shares of the real estate investment trust’s stock valued at $155,000 after acquiring an additional 3,236 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Service Properties Trust by 1.5% in the third quarter. Asset Management One Co. Ltd. now owns 247,449 shares of the real estate investment trust’s stock valued at $1,128,000 after acquiring an additional 3,594 shares during the period. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Service Properties Trust Trading Up 6.4 %

NASDAQ:SVC opened at $2.48 on Friday. Service Properties Trust has a one year low of $2.29 and a one year high of $8.72. The company has a market cap of $413.29 million, a PE ratio of -1.69 and a beta of 2.19. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a 50-day moving average of $3.04 and a 200-day moving average of $4.29.

Service Properties Trust (NASDAQ:SVC) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.65). Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. The company had revenue of $491.17 million for the quarter, compared to the consensus estimate of $497.97 million. During the same period in the prior year, the firm posted $0.56 earnings per share. As a group, equities research analysts expect that Service Properties Trust will post 1.13 EPS for the current fiscal year.

Service Properties Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Monday, October 28th. Service Properties Trust’s payout ratio is currently -2.72%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their target price on Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating on the stock in a report on Monday, December 9th.

About Service Properties Trust

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.