Barclays PLC Increases Stake in Service Properties Trust (NASDAQ:SVC)

Barclays PLC boosted its stake in shares of Service Properties Trust (NASDAQ:SVC) by 310.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 280,421 shares of the real estate investment trust’s stock after purchasing an additional 212,130 shares during the period. Barclays PLC owned approximately 0.17% of Service Properties Trust worth $1,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SVC. Van ECK Associates Corp lifted its position in 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 lifted its holdings in shares of Service Properties Trust by 13.0% in the 2nd quarter. King Luther Capital Management Corp now owns 27,115 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 3,115 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of 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 buying an additional 3,122 shares during the last quarter. abrdn plc grew its holdings in Service Properties Trust by 10.5% during the third quarter. abrdn plc now owns 33,919 shares of the real estate investment trust’s stock worth $155,000 after acquiring an additional 3,236 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in Service Properties Trust by 1.5% during 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 in the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Price Performance

Shares of NASDAQ SVC opened at $2.60 on Tuesday. The stock’s 50-day moving average is $2.69 and its two-hundred day moving average is $4.00. 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 company has a market cap of $433.28 million, a price-to-earnings ratio of -1.77 and a beta of 2.19. Service Properties Trust has a 1-year low of $2.29 and a 1-year high of $8.15.

Service Properties Trust (NASDAQ:SVC) last issued its 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 business had revenue of $491.17 million for the quarter, compared to analyst estimates of $497.97 million. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. During the same period last year, the business posted $0.56 EPS. Analysts forecast that Service Properties Trust will post 1.13 EPS for the current fiscal year.

Service Properties Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were issued a $0.01 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.54%. Service Properties Trust’s dividend payout ratio is currently -2.72%.

Wall Street Analyst Weigh In

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

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.