Jump Financial LLC Reduces Stock Position in Service Properties Trust $SVC

Key Points

• Jump Financial LLC has reduced its stake in Service Properties Trust by 61.2%, selling 421,170 shares during the first quarter, leaving them with 266,751 shares valued at $696,000.
• Despite a quarterly earnings report showing a 0.35 EPS, which exceeded estimates, the company has been downgraded by Zacks Research from a "hold" to a "strong sell" rating.
• Service Properties Trust announced a quarterly dividend of $0.01 per share, representing an annualized yield of 1.5%, though the dividend payout ratio is currently negative at -2.40%.

Jump Financial LLC decreased its holdings in Service Properties Trust (NASDAQ:SVC - Free Report) by 61.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 266,751 shares of the real estate investment trust's stock after selling 421,170 shares during the quarter. Jump Financial LLC owned about 0.16% of Service Properties Trust worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Family Wealth Partners LLC purchased a new position in Service Properties Trust during the first quarter valued at $29,000. Principal Financial Group Inc. bought a new stake in Service Properties Trust during the first quarter valued at approximately $29,000. Signaturefd LLC increased its position in Service Properties Trust by 3,016.3% in 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 in the last quarter. Tidal Investments LLC purchased a new position in shares of Service Properties Trust during the 4th quarter valued at $33,000. Finally, PNC Financial Services Group Inc. boosted its stake in 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 purchasing an additional 9,562 shares during the period. 77.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $3.00.

Service Properties Trust Stock Down 0.9%

Shares of SVC stock traded down $0.03 on Thursday, hitting $2.71. The stock had a trading volume of 548,705 shares, compared to its average volume of 1,733,291. Service Properties Trust has a one year low of $1.71 and a one year high of $5.00. The business has a 50 day moving average price of $2.65 and a 200 day moving average price of $2.44. The company has a market cap of $451.36 million, a PE ratio of -1.62 and a beta of 1.86. 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 issued its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating 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 net margin of 14.73% and a negative return on equity of 34.61%.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, July 21st were paid a dividend of $0.01 per share. The ex-dividend date 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%.

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.