Bank of New York Mellon Corp Purchases Shares of 2,184,317 Service Properties Trust $SVC

Key Points

• Bank of New York Mellon purchased 2.18 million shares of Service Properties Trust in the second quarter, valued at approximately $3.69 million and representing a 1.69% stake. Institutional investors and hedge funds collectively own 77.62% of SVC.
• Service Properties Trust shares opened at $7.61, below their 50-day and 200-day moving averages of $8.25 and $8.53, respectively. The stock has traded between $5.65 and $15.05 over the past year.
• The company paid a quarterly dividend of $0.05, equivalent to an annualized yield of 2.6%. Analysts have a consensus “Hold” rating and an average price target of $12.81, although recent coverage includes both Buy and Sell ratings.

Bank of New York Mellon Corp purchased a new position in shares of Service Properties Trust (NASDAQ:SVC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,184,317 shares of the real estate investment trust's stock, valued at approximately $3,691,000. Bank of New York Mellon Corp owned 1.69% of Service Properties Trust as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caxton Associates LLP bought a new position in Service Properties Trust during the 3rd quarter worth $33,000. BNP Paribas Financial Markets lifted its stake in Service Properties Trust by 54.4% during the second quarter. BNP Paribas Financial Markets now owns 14,470 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 5,099 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Service Properties Trust in the third quarter valued at about $45,000. Abel Hall LLC bought a new stake in shares of Service Properties Trust during the fourth quarter worth $32,000. Finally, Russell Investments Group Ltd. raised its position in Service Properties Trust by 98.9% in the third quarter. Russell Investments Group Ltd. now owns 24,150 shares of the real estate investment trust's stock valued at $65,000 after purchasing an additional 12,006 shares during the last quarter. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Service Properties Trust Price Performance

SVC stock opened at $7.61 on Monday. The company's 50 day moving average is $8.25 and its 200 day moving average is $8.53. The stock has a market cap of $985.57 million, a price-to-earnings ratio of -0.99 and a beta of 1.66. Service Properties Trust has a 1-year low of $5.65 and a 1-year high of $15.05. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 2.11.

Service Properties Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, July 20th were paid a $0.05 dividend. This is a boost from Service Properties Trust's previous quarterly dividend of $0.05. This represents a $0.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, July 20th. Service Properties Trust's payout ratio is currently -2.60%.

Analyst Upgrades and Downgrades

SVC has been the topic of several analyst reports. Weiss Ratings upgraded Service Properties Trust from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 29th. Zacks Research raised Service Properties Trust from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. LADENBURG THALM/SH SH began coverage on shares of Service Properties Trust in a research report on Tuesday, June 30th. They set a "buy" rating and a $11.25 target price for the company. Finally, B. Riley Financial increased their price target on Service Properties Trust from $10.00 to $12.50 and gave the company a "buy" rating in a research report on Wednesday, June 17th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $12.81.

About Service Properties Trust

Service Properties Trust NASDAQ: SVC is a real estate investment trust (REIT) specializing in the acquisition, ownership and leasing of service-oriented properties, with a primary focus on the lodging sector. The company structures long-term, triple-net leases with established hotel operators under franchise agreements with leading global brands. By partnering with recognized hotel companies, Service Properties Trust seeks to generate a stable income stream through rent payments, while offering operators the capital and balance-sheet flexibility to grow their portfolios.

Since its formation in 2010, Service Properties Trust has grown its portfolio through strategic sale-leaseback transactions, targeted property acquisitions and selective dispositions.

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