Stifel Financial Corp Buys 9,463 Shares of Service Properties Trust (NASDAQ:SVC)

Stifel Financial Corp boosted its stake in shares of Service Properties Trust (NASDAQ:SVC) by 39.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,222 shares of the real estate investment trust’s stock after purchasing an additional 9,463 shares during the quarter. Stifel Financial Corp’s holdings in Service Properties Trust were worth $152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SVC. Xponance Inc. acquired a new stake in shares of Service Properties Trust in the second quarter valued at about $53,000. Choreo LLC bought a new stake in Service Properties Trust during the 2nd quarter valued at approximately $54,000. Walleye Capital LLC acquired a new stake in Service Properties Trust in the 3rd quarter valued at approximately $58,000. Family Wealth Partners LLC bought a new position in Service Properties Trust in the 3rd quarter worth approximately $69,000. Finally, Metis Global Partners LLC lifted its holdings in shares of Service Properties Trust by 38.8% during the third quarter. Metis Global Partners LLC now owns 18,082 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 5,056 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price objective on shares of Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating on the stock in a research note on Monday, December 9th.

Service Properties Trust Stock Down 1.6 %

Shares of SVC opened at $2.45 on Tuesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The company has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $4.17. Service Properties Trust has a 52 week low of $2.29 and a 52 week high of $8.65. The firm has a market capitalization of $408.29 million, a P/E ratio of -1.67 and a beta of 2.19.

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

Service Properties Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a yield of 1.63%. Service Properties Trust’s dividend payout ratio is currently -2.72%.

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.