Renaissance Technologies LLC Acquires Shares of 408,800 Service Properties Trust (NASDAQ:SVC)

Renaissance Technologies LLC acquired a new stake in Service Properties Trust (NASDAQ:SVC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 408,800 shares of the real estate investment trust's stock, valued at approximately $1,038,000. Renaissance Technologies LLC owned 0.25% of Service Properties Trust at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC grew its holdings in shares of Service Properties Trust by 87.1% during the 4th quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 4,942 shares in the last quarter. Cibc World Markets Corp acquired a new stake in Service Properties Trust during the fourth quarter worth $39,000. Corient Private Wealth LLC acquired a new position in shares of Service Properties Trust in the 4th quarter valued at $41,000. KBC Group NV lifted its holdings in shares of Service Properties Trust by 140.6% during the 4th quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 11,491 shares during the period. Finally, RPO LLC acquired a new stake in shares of Service Properties Trust during the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 77.62% of the company's stock.

Service Properties Trust Price Performance

Shares of Service Properties Trust stock traded up $0.14 during mid-day trading on Tuesday, reaching $2.07. 3,184,939 shares of the stock were exchanged, compared to its average volume of 2,105,063. Service Properties Trust has a fifty-two week low of $1.71 and a fifty-two week high of $6.34. The company has a market cap of $344.94 million, a price-to-earnings ratio of -1.41 and a beta of 1.77. The firm has a 50-day simple moving average of $2.29 and a 200 day simple moving average of $2.61. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32.

Service Properties Trust (NASDAQ:SVC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%.

Service Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.04 annualized dividend and a yield of 1.93%. Service Properties Trust's payout ratio is -2.40%.

Analysts Set New Price Targets

A number of research analysts have commented on SVC shares. B. Riley assumed coverage on shares of Service Properties Trust in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $2.00 price target for the company. Wells Fargo & Company raised Service Properties Trust from an "underweight" rating to an "overweight" rating and boosted their price target for the company from $2.50 to $4.00 in a research note on Wednesday, March 19th.

Service Properties Trust Profile

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.