Rhumbline Advisers Trims Holdings in Service Properties Trust (NASDAQ:SVC)

Rhumbline Advisers lessened its stake in shares of Service Properties Trust (NASDAQ:SVC) by 46.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,423 shares of the real estate investment trust’s stock after selling 253,596 shares during the period. Rhumbline Advisers owned approximately 0.18% of Service Properties Trust worth $745,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SVC. Empowered Funds LLC bought a new position in shares of Service Properties Trust during the fourth quarter valued at $96,000. EMC Capital Management boosted its position in Service Properties Trust by 1,031.3% in the fourth quarter. EMC Capital Management now owns 24,459 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 22,297 shares during the last quarter. KBC Group NV increased its position in shares of Service Properties Trust by 140.6% during the 4th quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 11,491 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Service Properties Trust in the fourth quarter worth approximately $115,000. Finally, Virtu Financial LLC bought a new stake in Service Properties Trust during the third quarter valued at approximately $170,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Service Properties Trust Stock Down 1.0 %

NASDAQ SVC opened at $2.87 on Friday. Service Properties Trust has a 52 week low of $2.29 and a 52 week high of $6.85. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The company has a market capitalization of $478.25 million, a P/E ratio of -1.95 and a beta of 2.19. The stock’s 50-day moving average price is $2.70 and its 200-day moving average price is $3.36.

Service Properties Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.39%. The ex-dividend date was Monday, January 27th. Service Properties Trust’s dividend payout ratio is currently -2.40%.

Analyst Ratings Changes

Separately, Wells Fargo & Company decreased their price target on shares of Service Properties Trust from $2.75 to $2.50 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th.

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.