Brigade Capital Management LP Makes New $2.38 Million Investment in Service Properties Trust $SVC

Key Points

• Brigade Capital Management LP made a new investment of approximately $2.38 million in Service Properties Trust, acquiring 910,000 shares and making it the firm's 6th largest position.
• Service Properties Trust's stock received a downgrade from Zacks Research, moving from a "hold" rating to a "strong sell" rating, with an average consensus rating of "Hold" among analysts.
• The company reported earnings of $0.35 per share for the last quarter, beating estimates, but has a negative return on equity of -34.61% and a negative net margin of -14.73%.

Brigade Capital Management LP acquired a new position in shares of Service Properties Trust (NASDAQ:SVC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 910,000 shares of the real estate investment trust's stock, valued at approximately $2,375,000. Service Properties Trust comprises approximately 0.3% of Brigade Capital Management LP's holdings, making the stock its 6th largest position. Brigade Capital Management LP owned approximately 0.55% of Service Properties Trust as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Family Wealth Partners LLC acquired a new position in Service Properties Trust during the first quarter worth $29,000. Principal Financial Group Inc. acquired a new position in Service Properties Trust during the first quarter worth $29,000. Signaturefd LLC raised its holdings in Service Properties Trust by 3,016.3% during the first quarter. Signaturefd LLC now owns 11,873 shares of the real estate investment trust's stock worth $31,000 after buying an additional 11,492 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Service Properties Trust in the 4th quarter worth $33,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Service Properties Trust by 160.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 9,562 shares in the last quarter. Institutional investors and hedge funds own 77.62% of the company's stock.

Analyst Upgrades and Downgrades

Separately, 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. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $3.00.

Service Properties Trust Stock Down 2.6%

Service Properties Trust stock opened at $2.63 on Wednesday. The firm has a 50 day simple moving average of $2.65 and a 200 day simple moving average of $2.44. 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 1-year low of $1.71 and a 1-year high of $5.00. The firm has a market capitalization of $438.84 million, a price-to-earnings ratio of -1.57 and a beta of 1.86.

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

Service Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, July 21st were paid a $0.01 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.04 annualized dividend and a yield of 1.5%. Service Properties Trust's dividend payout ratio is currently -2.40%.

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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