Service Properties Trust (NASDAQ:SVC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in shares of Service Properties Trust (NASDAQ:SVC - Free Report) by 86.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,558 shares of the real estate investment trust's stock after selling 1,116,403 shares during the quarter. Legal & General Group Plc owned approximately 0.10% of Service Properties Trust worth $426,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Service Properties Trust by 20.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust's stock worth $19,188,000 after buying an additional 1,259,382 shares in the last quarter. Barclays PLC lifted its stake in Service Properties Trust by 310.6% in the 3rd quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust's stock worth $1,279,000 after purchasing an additional 212,130 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Service Properties Trust in the fourth quarter valued at approximately $828,000. Wolverine Asset Management LLC increased its holdings in shares of Service Properties Trust by 300.5% in the fourth quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust's stock valued at $444,000 after purchasing an additional 131,237 shares during the last quarter. Finally, CM Management LLC boosted its stake in Service Properties Trust by 50.0% during the fourth quarter. CM Management LLC now owns 450,000 shares of the real estate investment trust's stock worth $1,143,000 after buying an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company's stock.

Service Properties Trust Stock Down 0.3 %

Shares of SVC traded down $0.01 during mid-day trading on Monday, reaching $1.96. The company's stock had a trading volume of 46,692 shares, compared to its average volume of 2,089,214. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $6.34. The company's 50 day moving average is $2.32 and its 200 day moving average is $2.63. The stock has a market cap of $327.28 million, a PE ratio of -1.33 and a beta of 1.77.

Service Properties Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Tuesday, April 22nd. Service Properties Trust's payout ratio is -2.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SVC shares. Wells Fargo & Company raised shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and lifted their target price for the stock from $2.50 to $4.00 in a research note 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 target price on the stock.

About Service Properties Trust

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.