CANADA LIFE ASSURANCE Co Has $491,000 Holdings in Service Properties Trust (NASDAQ:SVC)

CANADA LIFE ASSURANCE Co decreased its stake in Service Properties Trust (NASDAQ:SVC - Free Report) by 44.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,592 shares of the real estate investment trust's stock after selling 155,127 shares during the period. CANADA LIFE ASSURANCE Co owned 0.12% of Service Properties Trust worth $491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Service Properties Trust by 20.0% during the fourth 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 purchasing an additional 1,259,382 shares during the period. Barclays PLC lifted its holdings in Service Properties Trust by 310.6% during 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 bought a new position in Service Properties Trust during the fourth quarter worth $828,000. Wolverine Asset Management LLC boosted its position in Service Properties Trust by 300.5% during the fourth 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 period. Finally, CM Management LLC increased its holdings in shares of Service Properties Trust by 50.0% in the fourth quarter. CM Management LLC now owns 450,000 shares of the real estate investment trust's stock valued at $1,143,000 after purchasing an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company's stock.

Service Properties Trust Stock Performance

Shares of Service Properties Trust stock traded up $0.07 during trading on Friday, reaching $1.97. The company's stock had a trading volume of 1,531,948 shares, compared to its average volume of 2,097,359. 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 $328.27 million, a PE ratio of -1.34 and a beta of 1.77. The business's 50-day moving average price is $2.32 and its 200-day moving average price is $2.64. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32.

Service Properties Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.03%. Service Properties Trust's payout ratio is presently -2.40%.

Analyst Ratings Changes

SVC has been the subject of several research analyst reports. Wells Fargo & Company raised shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and lifted their target price for the stock from $2.50 to $4.00 in a report on Wednesday, March 19th. B. Riley assumed coverage on Service Properties Trust in a report on Tuesday, April 22nd. They set a "neutral" rating and a $2.00 price objective 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.