Geode Capital Management LLC Acquires 151,234 Shares of Service Properties Trust (NASDAQ:SVC)

Geode Capital Management LLC raised its holdings in Service Properties Trust (NASDAQ:SVC) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,509,823 shares of the real estate investment trust’s stock after acquiring an additional 151,234 shares during the period. Geode Capital Management LLC owned about 2.71% of Service Properties Trust worth $20,568,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Xponance Inc. bought a new position in shares of Service Properties Trust in the 2nd quarter valued at $53,000. Choreo LLC acquired a new position in Service Properties Trust in the 2nd quarter worth about $54,000. Walleye Capital LLC bought a new position in Service Properties Trust in the third quarter valued at about $58,000. Wolverine Trading LLC acquired a new stake in shares of Service Properties Trust during the third quarter valued at about $58,000. Finally, Family Wealth Partners LLC bought a new stake in shares of Service Properties Trust during the third quarter worth about $69,000. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Stock Performance

NASDAQ SVC opened at $2.49 on Friday. The company has a market capitalization of $414.95 million, a price-to-earnings ratio of -1.69 and a beta of 2.19. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a twelve month low of $2.29 and a twelve month high of $8.72. The stock has a fifty day simple moving average of $2.88 and a 200 day simple moving average of $4.20.

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

Service Properties Trust Cuts Dividend

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

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their price objective on shares of Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating for the company in a report on Monday, December 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.