Allianz Asset Management GmbH Purchases 184,106 Shares of Service Properties Trust $SVC

Key Points

• Allianz Asset Management GmbH increased its stake in Service Properties Trust by 7.8%, acquiring an additional 184,106 shares in the second quarter, bringing its total ownership to approximately 2.54 million shares, valued at $6.08 million.
• Service Properties Trust announced a quarterly dividend of $0.01 per share, with an annualized yield of 1.7%, set to be distributed on November 13 to shareholders of record.
• The company's recent earnings report indicated a revenue of $503.44 million for the quarter, surpassing analyst expectations, while also reporting an EPS of $0.35, beating estimates by $0.01.

Allianz Asset Management GmbH grew its position in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,544,687 shares of the real estate investment trust's stock after purchasing an additional 184,106 shares during the quarter. Allianz Asset Management GmbH owned about 1.53% of Service Properties Trust worth $6,082,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Service Properties Trust by 7.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,127,210 shares of the real estate investment trust's stock worth $21,212,000 after purchasing an additional 572,954 shares during the last quarter. Capital Management Corp VA increased its stake in shares of Service Properties Trust by 27.5% in the 2nd quarter. Capital Management Corp VA now owns 7,225,765 shares of the real estate investment trust's stock valued at $17,270,000 after acquiring an additional 1,559,600 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Service Properties Trust by 114.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,118,530 shares of the real estate investment trust's stock valued at $10,749,000 after acquiring an additional 2,200,754 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Service Properties Trust by 30.8% in the 1st quarter. AQR Capital Management LLC now owns 1,346,098 shares of the real estate investment trust's stock valued at $3,446,000 after acquiring an additional 317,218 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Service Properties Trust in the 1st quarter valued at $3,306,000. Institutional investors own 77.62% of the company's stock.

Service Properties Trust Stock Performance

Shares of SVC stock opened at $2.35 on Thursday. The firm has a market capitalization of $392.12 million, a PE ratio of -1.41 and a beta of 1.88. The firm has a fifty day simple moving average of $2.63 and a two-hundred day simple moving average of $2.43. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 5.79. Service Properties Trust has a 12 month low of $1.71 and a 12 month high of $3.78.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $503.44 million during the quarter, compared to analyst estimates of $497.53 million. Service Properties Trust had a negative net margin of 14.73% and a negative return on equity of 34.61%.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, October 27th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, October 27th. Service Properties Trust's payout ratio is -2.40%.

Analyst Ratings Changes

Several analysts have recently weighed in on SVC shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Service Properties Trust in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Service Properties Trust to a "hold" rating in a research note on Friday, October 3rd. B. Riley reiterated a "neutral" rating and issued a $3.00 price objective (up previously from $2.00) on shares of Service Properties Trust in a research note on Thursday, September 25th. Finally, Zacks Research lowered shares of Service Properties Trust from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $2.75.

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.

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