Millennium Management LLC Buys 1,369,306 Shares of Service Properties Trust (NASDAQ:SVC)

Millennium Management LLC grew its stake in Service Properties Trust (NASDAQ:SVC - Free Report) by 279.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,858,949 shares of the real estate investment trust's stock after purchasing an additional 1,369,306 shares during the period. Millennium Management LLC owned about 1.12% of Service Properties Trust worth $4,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SVC. PFG Investments LLC acquired a new stake in Service Properties Trust in the 4th quarter worth $115,000. KBC Group NV lifted its holdings in shares of Service Properties Trust by 140.6% during the 4th quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 11,491 shares during the period. EMC Capital Management lifted its holdings in shares of Service Properties Trust by 1,031.3% during the 4th quarter. EMC Capital Management now owns 24,459 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 22,297 shares during the period. Empowered Funds LLC bought a new position in shares of Service Properties Trust during the 4th quarter worth about $96,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Service Properties Trust by 300.5% during the 4th quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust's stock worth $444,000 after acquiring an additional 131,237 shares during the period. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SVC. Wells Fargo & Company raised shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $2.50 to $4.00 in a report on Wednesday, March 19th. B. Riley began coverage on shares of Service Properties Trust in a report on Tuesday, April 22nd. They set a "neutral" rating and a $2.00 price objective for the company.

Service Properties Trust Price Performance

Shares of NASDAQ:SVC traded down $0.04 during midday trading on Monday, reaching $2.28. 1,011,297 shares of the company's stock were exchanged, compared to its average volume of 2,147,607. Service Properties Trust has a 12 month low of $1.71 and a 12 month high of $6.34. The firm has a market capitalization of $379.93 million, a PE ratio of -1.55 and a beta of 1.77. The company's 50 day simple moving average is $2.09 and its two-hundred day simple moving average is $2.47. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03.

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

Service Properties Trust Dividend Announcement

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

Service Properties Trust Company 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.