Y Intercept Hong Kong Ltd Purchases New Position in Service Properties Trust (NASDAQ:SVC)

Y Intercept Hong Kong Ltd acquired a new position in shares of Service Properties Trust (NASDAQ:SVC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,471 shares of the real estate investment trust’s stock, valued at approximately $71,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SVC. Capital Management Corp VA grew its holdings in shares of Service Properties Trust by 9.6% during the third quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock worth $23,596,000 after purchasing an additional 453,944 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Service Properties Trust by 395.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,038,410 shares of the real estate investment trust’s stock worth $4,735,000 after acquiring an additional 828,765 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Service Properties Trust by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,294,874 shares of the real estate investment trust’s stock valued at $28,705,000 after acquiring an additional 616,718 shares during the period. Intech Investment Management LLC increased its position in Service Properties Trust by 17.3% in the 3rd quarter. Intech Investment Management LLC now owns 67,969 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 10,000 shares during the period. Finally, Whitebox Advisors LLC raised its stake 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 acquiring an additional 382,502 shares during the last quarter. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Price Performance

Shares of SVC opened at $2.33 on Friday. The business has a 50-day moving average of $3.09 and a 200-day moving average of $4.31. Service Properties Trust has a 1 year low of $2.29 and a 1 year high of $8.72. The company has a market capitalization of $388.29 million, a price-to-earnings ratio of -1.59 and a beta of 2.19. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03.

Service Properties Trust (NASDAQ:SVC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.65). Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. The firm had revenue of $491.17 million during the quarter, compared to analyst estimates of $497.97 million. During the same quarter last year, the firm posted $0.56 EPS. As a group, equities research analysts anticipate that Service Properties Trust will post 1.13 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.04 dividend on an annualized basis and a yield of 1.72%. Service Properties Trust’s dividend payout ratio (DPR) is currently -2.72%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their price objective on shares of Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating on the stock in a research note on Monday, December 9th.

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.