LSV Asset Management Sells 92,600 Shares of Service Properties Trust (NASDAQ:SVC)

LSV Asset Management trimmed its stake in Service Properties Trust (NASDAQ:SVC) by 2.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,439,314 shares of the real estate investment trust’s stock after selling 92,600 shares during the period. LSV Asset Management owned 2.68% of Service Properties Trust worth $30,099,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SVC. Texas Permanent School Fund Corp increased its position in Service Properties Trust by 1.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock worth $984,000 after buying an additional 2,476 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Service Properties Trust by 246.0% during the 1st quarter. GSA Capital Partners LLP now owns 152,710 shares of the real estate investment trust’s stock worth $1,035,000 after purchasing an additional 108,575 shares in the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of Service Properties Trust by 137.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 5,928 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 3,436 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Service Properties Trust by 7.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 54,003 shares of the real estate investment trust’s stock worth $366,000 after purchasing an additional 3,601 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Service Properties Trust by 5.4% during the 1st quarter. Principal Financial Group Inc. now owns 910,440 shares of the real estate investment trust’s stock worth $6,173,000 after purchasing an additional 46,417 shares in the last quarter. 77.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SVC has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a report on Thursday, March 21st. B. Riley decreased their price target on Service Properties Trust from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, May 13th.

Service Properties Trust Trading Up 1.7 %

Shares of SVC stock traded up $0.09 on Friday, reaching $5.41. 1,448,198 shares of the stock were exchanged, compared to its average volume of 1,023,362. The stock has a market cap of $896.76 million, a PE ratio of -6.49 and a beta of 2.21. Service Properties Trust has a one year low of $4.81 and a one year high of $9.28. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a 50 day moving average price of $5.32 and a 200 day moving average price of $6.56.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 14.79%. Service Properties Trust’s payout ratio is currently -95.24%.

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.