Louisiana State Employees Retirement System Cuts Position in Service Properties Trust (NASDAQ:SVC)

Louisiana State Employees Retirement System lessened its position in shares of Service Properties Trust (NASDAQ:SVC) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 80,200 shares of the real estate investment trust’s stock after selling 3,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Service Properties Trust were worth $366,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SVC. Xponance Inc. purchased a new position in shares of Service Properties Trust in the 2nd quarter worth approximately $53,000. Choreo LLC purchased a new position in shares of Service Properties Trust in the 2nd quarter worth approximately $54,000. Sequoia Financial Advisors LLC purchased a new position in shares of Service Properties Trust in the 2nd quarter worth approximately $68,000. Family Wealth Partners LLC purchased a new position in shares of Service Properties Trust in the 3rd quarter worth approximately $69,000. Finally, NorthRock Partners LLC purchased a new position in shares of Service Properties Trust in the 1st quarter worth approximately $75,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Service Properties Trust Price Performance

Shares of SVC stock opened at $3.31 on Thursday. Service Properties Trust has a 52-week low of $2.93 and a 52-week high of $8.72. The company has a debt-to-equity ratio of 3.98, a quick ratio of 0.01 and a current ratio of 0.01. The firm has a market capitalization of $549.10 million, a P/E ratio of -2.71 and a beta of 2.23. The stock has a 50 day moving average price of $4.30 and a 200 day moving average price of $4.97.

Service Properties Trust (NASDAQ:SVC) last issued its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.94). Service Properties Trust had a negative return on equity of 17.17% and a negative net margin of 10.56%. The business had revenue of $512.95 million for the quarter, compared to the consensus estimate of $509.33 million. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, sell-side analysts predict that Service Properties Trust will post 1.21 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, October 28th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, October 28th. Service Properties Trust’s dividend payout ratio is currently -3.28%.

Wall Street Analyst Weigh In

SVC has been the subject of a number of recent research reports. B. Riley dropped their target price on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company dropped their target price on Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Friday, September 13th.

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.