Service Properties Trust $SVC Shares Sold by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its Service Properties Trust stake by 76.3% in the third quarter, selling 238,559 shares and retaining 74,157 shares valued at approximately $476,000.
• Service Properties Trust shares opened at $6.15, near the lower end of their 52-week range of $5.65 to $12.15. Institutional investors own 77.62% of the company.
• The REIT declared a quarterly dividend of $0.05 per share, equivalent to an annualized $0.20 payout and a 3.3% yield. Analysts’ average rating is “Hold,” with a consensus price target of $12.05.

State of Alaska Department of Revenue reduced its holdings in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 76.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,157 shares of the real estate investment trust's stock after selling 238,559 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Service Properties Trust worth $476,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Yorkville Advisors Global LP purchased a new position in Service Properties Trust in the 1st quarter worth $28,333,000. Bank of New York Mellon Corp bought a new stake in Service Properties Trust in the second quarter worth $3,691,000. Bank of America Corp DE lifted its stake in Service Properties Trust by 1.8% in the first quarter. Bank of America Corp DE now owns 2,338,854 shares of the real estate investment trust's stock worth $3,169,000 after purchasing an additional 42,317 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Service Properties Trust during the second quarter valued at about $1,153,000. Finally, Headlands Technologies LLC purchased a new stake in Service Properties Trust during the second quarter valued at about $543,000. 77.62% of the stock is owned by hedge funds and other institutional investors.

Service Properties Trust Price Performance

SVC opened at $6.15 on Friday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.01 and a current ratio of 0.01. Service Properties Trust has a 52-week low of $5.65 and a 52-week high of $12.15. The stock has a market capitalization of $796.49 million, a PE ratio of -0.80 and a beta of 1.72. The stock's 50 day moving average price is $6.89 and its 200-day moving average price is $7.69.

Service Properties Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 19th will be issued a $0.05 dividend. The ex-dividend date is Monday, October 19th. This represents a $0.20 annualized dividend and a yield of 3.3%. Service Properties Trust's payout ratio is -2.60%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Loop Capital set a $9.00 price objective on Service Properties Trust in a research note on Friday, October 2nd. LADENBURG THALM/SH SH began coverage on Service Properties Trust in a research note on Tuesday, June 30th. They issued a "buy" rating and a $11.25 target price for the company. Zacks Research raised Service Properties Trust from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings cut Service Properties Trust from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $12.05.

Service Properties Trust Company Profile

Service Properties Trust NASDAQ: SVC is a real estate investment trust that owns and invests in hospitality and service-oriented properties. The company's portfolio has historically included hotels, extended-stay lodging properties and other real estate leased to businesses that provide essential or consumer-focused services.

Service Properties Trust generally leases its properties to hotel operators and other commercial tenants rather than managing most locations directly. Its hotel portfolio has included properties operated under a variety of well-known brands, while its service-focused properties have supported businesses such as healthcare, automotive and travel-related services.

The company's properties are primarily located in the United States, with investments also having included select locations in Canada and Puerto Rico.

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