Cibc World Markets Corp Buys Shares of 15,439 Service Properties Trust (NASDAQ:SVC)

Cibc World Markets Corp purchased a new position in Service Properties Trust (NASDAQ:SVC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,439 shares of the real estate investment trust’s stock, valued at approximately $39,000.

A number of other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its stake in Service Properties Trust by 2.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 211,100 shares of the real estate investment trust’s stock worth $963,000 after purchasing an additional 5,400 shares during the period. Stifel Financial Corp grew its position in shares of Service Properties Trust by 39.8% during the 3rd quarter. Stifel Financial Corp now owns 33,222 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 9,463 shares during the period. Intech Investment Management LLC increased its stake in shares of 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 in the last quarter. KBC Group NV increased its stake in shares of Service Properties Trust by 140.6% in the 4th quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 11,491 shares in the last quarter. Finally, Wolverine Trading LLC acquired a new position in shares of Service Properties Trust during the 3rd quarter valued at $58,000. 77.62% of the stock is owned by institutional investors.

Service Properties Trust Stock Down 2.6 %

SVC stock opened at $2.63 on Friday. The stock’s 50 day simple moving average is $2.73 and its 200 day simple moving average is $3.14. The company has a market cap of $438.26 million, a P/E ratio of -1.79 and a beta of 2.21. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. Service Properties Trust has a fifty-two week low of $2.29 and a fifty-two week high of $6.85.

Service Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, January 27th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, January 27th. Service Properties Trust’s payout ratio is -2.40%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company upgraded shares of Service Properties Trust from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $2.50 to $4.00 in a report on Wednesday, March 19th.

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.