Service Properties Trust (NASDAQ:SVC) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE grew its stake in Service Properties Trust (NASDAQ:SVC - Free Report) by 140.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 440,652 shares of the real estate investment trust's stock after acquiring an additional 257,260 shares during the quarter. Bank of America Corp DE owned about 0.26% of Service Properties Trust worth $1,119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SVC. Charles Schwab Investment Management Inc. grew its stake in Service Properties Trust by 20.0% during 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. Arrowstreet Capital Limited Partnership purchased a new position in Service Properties Trust during the 4th quarter worth $828,000. Wolverine Asset Management LLC grew 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 buying an additional 131,237 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in Service Properties Trust during the 4th quarter worth $20,553,000. Finally, CM Management LLC grew its stake in Service Properties Trust by 50.0% during the 4th 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 during the last quarter. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Service Properties Trust Stock Up 3.5%

SVC stock traded up $0.08 on Friday, hitting $2.35. 724,096 shares of the company's stock were exchanged, compared to its average volume of 2,150,558. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $6.34. The firm has a 50 day moving average price of $2.06 and a two-hundred day moving average price of $2.46. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market cap of $391.59 million, a P/E ratio of -1.60 and a beta of 1.87.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.02. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. The company had revenue of $435.18 million during the quarter, compared to analysts' expectations of $433.21 million.

Service Properties Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 1.70%. Service Properties Trust's dividend payout ratio is currently -2.12%.

Wall Street Analysts Forecast Growth

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

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.