Service Properties Trust $SVC Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Service Properties Trust by 7.6% during the first quarter, now owning 8,127,210 shares valued at approximately $21.21 million.
• Service Properties Trust's stock has faced a downgrade from Zacks Research, moving from a "hold" rating to a "strong sell," with a consensus rating of "Hold" and an average target price of $3.00.
• The company reported earnings of $0.35 per share in its last quarter, surpassing estimates, but displayed financial challenges with a negative return on equity of 34.61% and a net margin of -14.73%.

Charles Schwab Investment Management Inc. grew its stake in Service Properties Trust (NASDAQ:SVC - Free Report) by 7.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,127,210 shares of the real estate investment trust's stock after buying an additional 572,954 shares during the quarter. Charles Schwab Investment Management Inc. owned 4.88% of Service Properties Trust worth $21,212,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted 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 valued at $41,000 after buying an additional 9,562 shares during the period. Cetera Investment Advisers lifted its stake in Service Properties Trust by 61.4% during the first quarter. Cetera Investment Advisers now owns 67,712 shares of the real estate investment trust's stock worth $177,000 after purchasing an additional 25,767 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in Service Properties Trust by 139.9% during the first quarter. KLP Kapitalforvaltning AS now owns 77,500 shares of the real estate investment trust's stock worth $202,000 after purchasing an additional 45,200 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Service Properties Trust by 32.6% during the first quarter. Allianz Asset Management GmbH now owns 2,360,581 shares of the real estate investment trust's stock worth $6,161,000 after purchasing an additional 580,754 shares during the last quarter. Finally, Capital Management Corp VA lifted its stake in Service Properties Trust by 37.5% during the first quarter. Capital Management Corp VA now owns 5,666,165 shares of the real estate investment trust's stock worth $14,789,000 after purchasing an additional 1,544,548 shares during the last quarter. Hedge funds and other institutional investors own 77.62% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Service Properties Trust from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $3.00.

Service Properties Trust Stock Performance

SVC traded up $0.04 during trading on Wednesday, hitting $2.73. 960,078 shares of the stock were exchanged, compared to its average volume of 1,526,286. The firm has a market capitalization of $455.53 million, a P/E ratio of -1.63 and a beta of 1.91. Service Properties Trust has a 1-year low of $1.71 and a 1-year high of $5.00. The stock has a fifty day moving average price of $2.63 and a two-hundred day moving average price of $2.44. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 5.79.

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

Service Properties Trust Announces Dividend

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