The Manufacturers Life Insurance Company Sells 22,901 Shares of Service Properties Trust (NASDAQ:SVC)

The Manufacturers Life Insurance Company decreased its position in Service Properties Trust (NASDAQ:SVC) by 26.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 62,239 shares of the real estate investment trust’s stock after selling 22,901 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Service Properties Trust were worth $284,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SVC. Xponance Inc. bought a new stake in shares of Service Properties Trust in the 2nd quarter worth about $53,000. Choreo LLC bought a new stake in shares of Service Properties Trust in the 2nd quarter worth about $54,000. Sequoia Financial Advisors LLC bought a new stake in shares of Service Properties Trust in the 2nd quarter worth about $68,000. Family Wealth Partners LLC bought a new stake in shares of Service Properties Trust in the 3rd quarter worth about $69,000. Finally, Metis Global Partners LLC grew its holdings in shares of Service Properties Trust by 38.8% in the 3rd quarter. Metis Global Partners LLC now owns 18,082 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 5,056 shares during the last quarter. Institutional investors own 77.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased 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 report on Monday, December 9th.

Service Properties Trust Stock Down 3.1 %

Shares of NASDAQ:SVC opened at $2.51 on Monday. Service Properties Trust has a 12 month low of $2.42 and a 12 month high of $8.72. The company’s 50-day moving average price is $3.27 and its two-hundred day moving average price is $4.39. 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 firm has a market cap of $418.29 million, a P/E ratio of -1.71 and a beta of 2.19.

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 (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.65). The business had revenue of $491.17 million during the quarter, compared to the consensus estimate 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 last year, the business posted $0.56 EPS. As a group, research 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 announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Monday, October 28th. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.72%.

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.