Service Properties Trust (NASDAQ:SVC) Stake Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Service Properties Trust (NASDAQ:SVC) by 41.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 144,751 shares of the real estate investment trust’s stock after selling 102,532 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Service Properties Trust were worth $660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SVC. Capital Management Corp VA lifted its position in shares of Service Properties Trust by 9.6% in the 3rd quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock valued at $23,596,000 after acquiring an additional 453,944 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Service Properties Trust by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,436,369 shares of the real estate investment trust’s stock valued at $12,522,000 after purchasing an additional 85,791 shares during the period. AQR Capital Management LLC boosted its position in shares of Service Properties Trust by 65.3% in the second quarter. AQR Capital Management LLC now owns 734,572 shares of the real estate investment trust’s stock worth $3,607,000 after buying an additional 290,208 shares during the period. Whitebox Advisors LLC grew its holdings in shares of Service Properties Trust by 167.7% during the second quarter. Whitebox Advisors LLC now owns 610,602 shares of the real estate investment trust’s stock valued at $3,138,000 after buying an additional 382,502 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in Service Properties Trust by 6.0% during the second quarter. Public Sector Pension Investment Board now owns 364,727 shares of the real estate investment trust’s stock valued at $1,875,000 after buying an additional 20,736 shares during the period. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Service Properties Trust Price Performance

SVC opened at $2.79 on Friday. The stock has a fifty day moving average price of $3.72 and a 200 day moving average price of $4.62. 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 has a 1 year low of $2.47 and a 1 year high of $8.72. The stock has a market cap of $464.95 million, a price-to-earnings ratio of -1.90 and a beta of 2.23.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.65). Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. The firm had revenue of $491.17 million for the quarter, compared to analyst estimates of $497.97 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. Analysts forecast that Service Properties Trust will post 1.13 EPS for the current fiscal year.

Service Properties Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.43%. The ex-dividend date was Monday, October 28th. Service Properties Trust’s dividend payout ratio is -2.72%.

Wall Street Analyst Weigh In

SVC has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on Service Properties Trust from $4.00 to $3.00 and set an “underweight” rating on the stock in a research note on Tuesday. B. Riley dropped their price objective on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Service Properties Trust Company 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.