Whitebox Advisors LLC Grows Holdings in Service Properties Trust (NASDAQ:SVC)

Whitebox Advisors LLC boosted its position in Service Properties Trust (NASDAQ:SVC - Free Report) by 234.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,144,899 shares of the real estate investment trust's stock after purchasing an additional 1,504,297 shares during the period. Whitebox Advisors LLC owned about 1.29% of Service Properties Trust worth $5,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake 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 during the last quarter. Cibc World Markets Corp purchased a new stake in Service Properties Trust in the fourth quarter worth $39,000. Corient Private Wealth LLC purchased a new stake in Service Properties Trust in the fourth quarter worth $41,000. Boothbay Fund Management LLC bought a new stake in shares of Service Properties Trust in the fourth quarter valued at $48,000. Finally, KBC Group NV lifted its position 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 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.

Service Properties Trust Price Performance

Shares of SVC traded up $0.14 during midday trading on Tuesday, reaching $2.07. The stock had a trading volume of 1,742,671 shares, compared to its average volume of 2,093,897. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The company has a market capitalization of $344.11 million, a price-to-earnings ratio of -1.41 and a beta of 1.77. The company's 50-day moving average is $2.31 and its 200 day moving average is $2.62. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $6.34.

Service Properties Trust Dividend Announcement

The business 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 is Tuesday, April 22nd. This represents a $0.04 annualized dividend and a yield of 1.94%. Service Properties Trust's payout ratio is currently -2.40%.

Analysts Set New Price Targets

SVC has been the topic of several research reports. Wells Fargo & Company raised shares of 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 report on Wednesday, March 19th. B. Riley started 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 objective for the company.

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.