Nantahala Capital Management LLC Takes Position in Service Properties Trust (NASDAQ:SVC)

Nantahala Capital Management LLC acquired a new position in shares of Service Properties Trust (NASDAQ:SVC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,091,900 shares of the real estate investment trust's stock, valued at approximately $20,553,000. Service Properties Trust makes up about 0.9% of Nantahala Capital Management LLC's holdings, making the stock its 18th largest position. Nantahala Capital Management LLC owned about 4.86% of Service Properties Trust as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in Service Properties Trust by 87.1% during the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust's stock worth $27,000 after buying an additional 4,942 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of Service Properties Trust in the fourth quarter valued at approximately $39,000. Corient Private Wealth LLC acquired a new position in shares of Service Properties Trust in the fourth quarter valued at approximately $41,000. Boothbay Fund Management LLC acquired a new position in shares of Service Properties Trust in the fourth quarter valued at approximately $48,000. Finally, KBC Group NV raised its position in shares of Service Properties Trust by 140.6% in the fourth quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 11,491 shares during the last quarter. Hedge funds and other institutional investors own 77.62% of the company's stock.

Analyst Upgrades and Downgrades

SVC has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and boosted their price objective for the company from $2.50 to $4.00 in a research report on Wednesday, March 19th. B. Riley started coverage on shares of Service Properties Trust in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $2.00 price target on the stock.

Service Properties Trust Stock Down 3.2 %

Shares of NASDAQ:SVC traded down $0.06 during trading on Wednesday, hitting $1.80. The company's stock had a trading volume of 2,834,609 shares, compared to its average volume of 2,086,705. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. Service Properties Trust has a fifty-two week low of $1.71 and a fifty-two week high of $6.34. The stock's 50-day moving average price is $2.37 and its two-hundred day moving average price is $2.69. The company has a market capitalization of $299.95 million, a PE ratio of -1.22 and a beta of 1.80.

Service Properties Trust Announces Dividend

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 paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, April 22nd. Service Properties Trust's payout ratio is currently -2.40%.

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.