MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 1,969,242 Shares of Service Properties Trust (NASDAQ:SVC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 95.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,717 shares of the real estate investment trust's stock after selling 1,969,242 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of Service Properties Trust worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Service Properties Trust by 20.0% in the fourth 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 purchasing an additional 1,259,382 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Service Properties Trust during the fourth quarter worth about $828,000. Wolverine Asset Management LLC grew its holdings in shares of Service Properties Trust by 300.5% during the fourth quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust's stock worth $444,000 after purchasing an additional 131,237 shares in the last quarter. Nantahala Capital Management LLC bought a new position in shares of Service Properties Trust in the fourth quarter worth approximately $20,553,000. Finally, CM Management LLC raised its stake in Service Properties Trust by 50.0% in the fourth quarter. CM Management LLC now owns 450,000 shares of the real estate investment trust's stock valued at $1,143,000 after purchasing an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 77.62% of the company's stock.

Analysts Set New Price Targets

SVC has been the topic of several research reports. Wells Fargo & Company upgraded shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and raised their price objective for the company from $2.50 to $4.00 in a research report on Wednesday, March 19th. B. Riley assumed coverage on Service Properties Trust in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $2.00 target price for the company.

Service Properties Trust Trading Down 1.3%

NASDAQ SVC traded down $0.03 during trading on Wednesday, hitting $2.28. 650,439 shares of the company's stock traded hands, compared to its average volume of 2,143,221. The stock has a fifty day moving average of $2.08 and a two-hundred day moving average of $2.47. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $6.34. The firm has a market cap of $379.93 million, a P/E ratio of -1.55 and a beta of 1.77. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03.

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

Service Properties Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Tuesday, April 22nd. Service Properties Trust's payout ratio is -2.12%.

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.