Nantahala Capital Management LLC acquired a new stake in shares of Service Properties Trust (NASDAQ:SVC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,091,900 shares of the real estate investment trust's stock, valued at approximately $20,553,000. Service Properties Trust accounts for about 0.9% of Nantahala Capital Management LLC's investment portfolio, making the stock its 18th biggest holding. Nantahala Capital Management LLC owned approximately 4.86% of Service Properties Trust at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in SVC. Barclays PLC grew its holdings 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 acquiring an additional 212,130 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Service Properties Trust by 20.0% in 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 purchasing an additional 1,259,382 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Service Properties Trust during the 4th quarter valued at about $828,000. Wolverine Asset Management LLC raised its position in Service Properties Trust by 300.5% during the 4th 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 lifted its holdings in Service Properties Trust by 50.0% in the 4th 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 period. Institutional investors own 77.62% of the company's stock.
Service Properties Trust Stock Up 3.7 %
SVC stock traded up $0.07 during midday trading on Friday, hitting $1.97. The stock had a trading volume of 1,531,948 shares, compared to its average volume of 2,091,966. The business has a 50-day moving average of $2.32 and a two-hundred day moving average of $2.64. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market cap of $328.27 million, a price-to-earnings ratio of -1.34 and a beta of 1.77. Service Properties Trust has a 52-week low of $1.71 and a 52-week high of $6.34.
Service Properties Trust Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 22nd will be paid a $0.01 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $0.04 annualized dividend and a dividend yield of 2.03%. Service Properties Trust's payout ratio is -2.40%.
Wall Street Analyst Weigh In
SVC has been the subject of a number of research analyst reports. B. Riley assumed coverage on Service Properties Trust in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $2.00 price target for the company. Wells Fargo & Company raised shares of Service Properties Trust from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $2.50 to $4.00 in a research note on Wednesday, March 19th.
View Our Latest Research Report on Service Properties Trust
About Service Properties Trust
(
Free Report)
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.
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