Service Properties Trust (NASDAQ:SVC) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its holdings in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 44.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 194,592 shares of the real estate investment trust's stock after selling 155,127 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.12% of Service Properties Trust worth $491,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in Service Properties Trust by 20.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust's stock worth $19,188,000 after buying an additional 1,259,382 shares during the last quarter. Barclays PLC raised its stake in Service Properties Trust by 310.6% in the 3rd quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust's stock valued at $1,279,000 after purchasing an additional 212,130 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Service Properties Trust in the 4th quarter valued at $828,000. Wolverine Asset Management LLC boosted its stake in Service Properties Trust by 300.5% during the 4th quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust's stock worth $444,000 after purchasing an additional 131,237 shares during the last quarter. Finally, CM Management LLC grew its holdings in shares of Service Properties Trust by 50.0% during the fourth quarter. CM Management LLC now owns 450,000 shares of the real estate investment trust's stock worth $1,143,000 after buying an additional 150,000 shares in the last quarter. 77.62% of the stock is owned by institutional investors and hedge funds.

Service Properties Trust Trading Up 2.2 %

Shares of SVC traded up $0.04 during mid-day trading on Monday, reaching $2.01. The stock had a trading volume of 71,281 shares, compared to its average volume of 2,089,618. Service Properties Trust has a 52-week low of $1.71 and a 52-week high of $6.34. The firm has a market cap of $335.44 million, a price-to-earnings ratio of -1.37 and a beta of 1.77. The business's fifty day moving average is $2.32 and its 200 day moving average is $2.63. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03.

Service Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 22nd will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, April 22nd. Service Properties Trust's dividend payout ratio is presently -2.40%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $2.50 to $4.00 in a research note on Wednesday, March 19th. B. Riley assumed coverage on Service Properties Trust in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $2.00 price target for the company.

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.