Bank of America Corp DE increased its stake in Service Properties Trust (NASDAQ:SVC - Free Report) by 140.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 440,652 shares of the real estate investment trust's stock after acquiring an additional 257,260 shares during the period. Bank of America Corp DE owned about 0.26% of Service Properties Trust worth $1,119,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. KBC Group NV raised its stake in Service Properties Trust by 140.6% in the fourth quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust's stock worth $50,000 after buying an additional 11,491 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Service Properties Trust in the 4th quarter worth $96,000. Wolverine Asset Management LLC raised its position in Service Properties Trust by 300.5% in the 4th quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust's stock worth $444,000 after buying an additional 131,237 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in Service Properties Trust by 3,721.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 591,225 shares of the real estate investment trust's stock valued at $1,502,000 after purchasing an additional 575,754 shares during the period. Finally, Versor Investments LP bought a new position in shares of Service Properties Trust during the 4th quarter valued at $561,000. Hedge funds and other institutional investors own 77.62% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on SVC. Wells Fargo & Company upgraded shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and increased their price target for the stock from $2.50 to $4.00 in a research report on Wednesday, March 19th. B. Riley assumed coverage on shares of Service Properties Trust in a report on Tuesday, April 22nd. They set a "neutral" rating and a $2.00 price objective for the company.
View Our Latest Stock Analysis on Service Properties Trust
Service Properties Trust Price Performance
Service Properties Trust stock traded up $0.09 during mid-day trading on Tuesday, reaching $2.48. 1,157,187 shares of the company's stock traded hands, compared to its average volume of 2,145,711. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $6.34. 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 has a 50 day moving average of $2.05 and a two-hundred day moving average of $2.46. The company has a market cap of $413.26 million, a price-to-earnings ratio of -1.69 and a beta of 1.87.
Service Properties Trust (NASDAQ:SVC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. The firm had revenue of $435.18 million during the quarter, compared to the consensus estimate of $433.21 million.
Service Properties Trust Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, April 22nd. Service Properties Trust's dividend payout ratio is currently -2.12%.
About Service Properties Trust
(
Free Report)
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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