Service Properties Trust $SVC Stock Position Lessened by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. reduced its Service Properties Trust stake by 80% in the third quarter, selling 665,793 shares and retaining 166,431 shares valued at approximately $1.07 million.
• Institutional investors own 77.62% of SVC, while other firms—including Yorkville Advisors and Bank of New York Mellon—recently initiated or increased positions.
• Analysts have a consensus “Hold” rating with a $12.05 price target. The stock recently opened at $6.25, and the company declared a quarterly dividend of $0.05 per share, yielding about 3.2% annually.

Asset Management One Co. Ltd. cut its holdings in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 80.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,431 shares of the real estate investment trust's stock after selling 665,793 shares during the period. Asset Management One Co. Ltd. owned approximately 0.13% of Service Properties Trust worth $1,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SVC. Yorkville Advisors Global LP bought a new position in Service Properties Trust in the 1st quarter valued at about $28,333,000. Bank of New York Mellon Corp bought a new stake in Service Properties Trust during the 2nd quarter worth approximately $3,691,000. Bank of America Corp DE increased its holdings in Service Properties Trust by 1.8% during the 1st 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Service Properties Trust in the second quarter worth approximately $1,153,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Service Properties Trust in the second quarter worth approximately $543,000. 77.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SVC has been the topic of a number of recent research reports. Zacks Research upgraded Service Properties Trust from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Weiss Ratings downgraded Service Properties Trust from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, October 8th. Finally, Loop Capital set a $9.00 price target on Service Properties Trust in a report on Friday, October 2nd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Service Properties Trust has a consensus rating of "Hold" and a consensus target price of $12.05.

Service Properties Trust Price Performance

Service Properties Trust stock opened at $6.25 on Tuesday. Service Properties Trust has a 52 week low of $5.65 and a 52 week high of $12.15. The company's 50 day moving average price is $6.69 and its two-hundred day moving average price is $8.34. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 2.11. The stock has a market cap of $809.44 million, a P/E ratio of 2.54 and a beta of 1.72.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, October 19th. Service Properties Trust's dividend payout ratio (DPR) is presently -2.60%.

About Service Properties Trust

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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