Readystate Asset Management LP Sells 150,829 Shares of Service Properties Trust (NASDAQ:SVC)

Readystate Asset Management LP reduced its holdings in Service Properties Trust (NASDAQ:SVC - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,920,976 shares of the real estate investment trust's stock after selling 150,829 shares during the quarter. Readystate Asset Management LP owned about 1.15% of Service Properties Trust worth $5,014,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SVC. Quadrant Capital Group LLC increased its stake in Service Properties Trust by 87.1% during 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 purchasing an additional 4,942 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Service Properties Trust by 40.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,121 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 6,659 shares in the last quarter. Sei Investments Co. increased its stake in Service Properties Trust by 12.7% during the 4th quarter. Sei Investments Co. now owns 72,589 shares of the real estate investment trust's stock valued at $185,000 after purchasing an additional 8,157 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Service Properties Trust during the 1st quarter valued at $29,000. Finally, Family Wealth Partners LLC bought a new stake in Service Properties Trust during the 1st quarter valued at $29,000. 77.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley began coverage on 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 Stock Up 4.8%

Shares of SVC stock traded up $0.14 during trading hours on Friday, reaching $3.03. The company had a trading volume of 871,913 shares, compared to its average volume of 1,507,655. Service Properties Trust has a 12 month low of $1.71 and a 12 month high of $5.88. 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 business has a fifty day simple moving average of $2.49 and a 200-day simple moving average of $2.46. The company has a market cap of $504.92 million, a price-to-earnings ratio of -1.60 and a beta of 1.86.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.02. Service Properties Trust had a negative return on equity of 35.59% and a negative net margin of 16.54%. The company had revenue of $435.18 million for the quarter, compared to analyst estimates of $433.21 million.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, July 21st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.32%. Service Properties Trust's dividend payout ratio is presently -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.