CastleKnight Management LP Has $5.46 Million Holdings in Service Properties Trust (NASDAQ:SVC)

CastleKnight Management LP increased its holdings in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 49.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,149,772 shares of the real estate investment trust's stock after acquiring an additional 715,200 shares during the quarter. CastleKnight Management LP owned about 1.29% of Service Properties Trust worth $5,460,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SVC. Quadrant Capital Group LLC boosted its stake in shares of Service Properties Trust by 87.1% in the 4th quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust's stock worth $27,000 after buying an additional 4,942 shares during the last quarter. Sei Investments Co. boosted its stake in Service Properties Trust by 12.7% in the 4th quarter. Sei Investments Co. now owns 72,589 shares of the real estate investment trust's stock worth $185,000 after purchasing an additional 8,157 shares in the last quarter. KBC Group NV grew its position in 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 worth $50,000 after purchasing an additional 11,491 shares during the period. First Trust Advisors LP increased its stake in Service Properties Trust by 41.1% during the 4th quarter. First Trust Advisors LP now owns 47,956 shares of the real estate investment trust's stock worth $122,000 after buying an additional 13,975 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of Service Properties Trust during the 4th quarter worth $39,000. 77.62% of the stock is currently owned by institutional investors.

Service Properties Trust Stock Performance

SVC opened at $1.93 on Tuesday. 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 stock's 50 day moving average price is $2.31 and its two-hundred day moving average price is $2.62. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $6.34. The firm has a market capitalization of $321.61 million, a P/E ratio of -1.31 and a beta of 1.77.

Service Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 22nd will be given a $0.01 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $0.04 annualized dividend and a yield of 2.07%. Service Properties Trust's dividend payout ratio is currently -2.40%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SVC. 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 objective for the company. Wells Fargo & Company upgraded shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and lifted their price target for the company from $2.50 to $4.00 in a report on Wednesday, March 19th.

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.

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