HighTower Advisors LLC Boosts Position in Service Properties Trust (NASDAQ:SVC)

HighTower Advisors LLC lifted its position in Service Properties Trust (NASDAQ:SVC) by 27.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,758 shares of the real estate investment trust’s stock after buying an additional 15,914 shares during the quarter. HighTower Advisors LLC’s holdings in Service Properties Trust were worth $338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp increased its stake in Service Properties Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 28,352 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 3,112 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of Service Properties Trust by 13.0% in the second quarter. King Luther Capital Management Corp now owns 27,115 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 3,115 shares during the last quarter. The Manufacturers Life Insurance Company increased its position 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 purchasing an additional 3,122 shares during the last quarter. abrdn plc raised its stake in Service Properties Trust by 10.5% in the third quarter. abrdn plc now owns 33,919 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 3,236 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted 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 purchasing an additional 3,594 shares during the last quarter. 77.62% of the stock is owned by hedge funds and other institutional investors.

Service Properties Trust Stock Up 6.4 %

NASDAQ SVC opened at $2.48 on Monday. Service Properties Trust has a 1 year low of $2.29 and a 1 year high of $8.72. The stock has a market capitalization of $413.29 million, a PE ratio of -1.69 and a beta of 2.19. 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 business’s 50-day moving average is $3.04 and its 200 day moving average is $4.28.

Service Properties Trust (NASDAQ:SVC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.65). The business had revenue of $491.17 million for 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 quarter in the prior year, the company earned $0.56 EPS. Sell-side analysts forecast that Service Properties Trust will post 1.13 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were issued a dividend of $0.01 per share. The ex-dividend date 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 -2.72%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company dropped their price target 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.

About Service Properties Trust

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.