Envestnet Asset Management Inc. Purchases 214,508 Shares of Service Properties Trust (NASDAQ:SVC)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Service Properties Trust by 56.9% in Q1, acquiring an additional 214,508 shares, bringing its total to 591,407 shares worth approximately $1.54 million.
• Multiple other hedge funds have also increased their stakes, with 77.62% of the stock now owned by institutional investors.
• Service Properties Trust declared a quarterly dividend of $0.01, representing an annualized dividend of $0.04 and a yield of 1.5%, with the payout ratio currently at -2.12%.

Envestnet Asset Management Inc. lifted its stake in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 56.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 591,407 shares of the real estate investment trust's stock after purchasing an additional 214,508 shares during the period. Envestnet Asset Management Inc. owned 0.35% of Service Properties Trust worth $1,544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake in Service Properties Trust by 87.1% in the 4th quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 4,942 shares during the period. Family Wealth Partners LLC bought a new stake in Service Properties Trust in the 1st quarter valued at $29,000. Principal Financial Group Inc. bought a new stake in Service Properties Trust in the 1st quarter valued at $29,000. Tidal Investments LLC bought a new stake in Service Properties Trust in the 4th quarter valued at $33,000. Finally, Corient Private Wealth LLC bought a new stake in Service Properties Trust in the 4th quarter valued at $41,000. Institutional investors own 77.62% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley began coverage on Service Properties Trust in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $2.00 price target on the stock.

Service Properties Trust Stock Performance

NASDAQ SVC traded up $0.09 on Monday, reaching $2.68. The stock had a trading volume of 473,970 shares, compared to its average volume of 1,789,278. The company has a debt-to-equity ratio of 5.48, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a fifty day moving average of $2.55 and a two-hundred day moving average of $2.46. Service Properties Trust has a 1-year low of $1.71 and a 1-year high of $5.31. The company has a market cap of $445.76 million, a P/E ratio of -1.42 and a beta of 1.91.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $435.18 million during the quarter, compared to the consensus estimate of $433.21 million. Service Properties Trust had a negative return on equity of 35.59% and a negative net margin of 16.54%.

Service Properties Trust Dividend Announcement

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