Bank of New York Mellon Corp Has $8.93 Million Holdings in Service Properties Trust (NASDAQ:SVC)

Bank of New York Mellon Corp cut its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,736,795 shares of the real estate investment trust’s stock after selling 27,817 shares during the quarter. Bank of New York Mellon Corp’s holdings in Service Properties Trust were worth $8,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FinTrust Capital Advisors LLC grew its position 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. Sequoia Financial Advisors LLC acquired a new position in shares of Service Properties Trust in the 2nd quarter valued at about $68,000. NorthRock Partners LLC acquired a new stake in Service Properties Trust during the first quarter worth approximately $75,000. EntryPoint Capital LLC lifted its stake in Service Properties Trust by 143.5% in the first quarter. EntryPoint Capital LLC now owns 15,413 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 9,082 shares during the period. Finally, Fortis Group Advisors LLC boosted its stake in Service Properties Trust by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 12,338 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 6,169 shares in the last quarter. Institutional investors own 77.62% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley reduced their price objective on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Service Properties Trust Stock Performance

Shares of Service Properties Trust stock opened at $4.43 on Wednesday. The company has a market cap of $734.89 million, a PE ratio of -5.27 and a beta of 2.21. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 3.98. Service Properties Trust has a 52 week low of $4.26 and a 52 week high of $8.72. The business has a 50 day moving average price of $5.04 and a 200-day moving average price of $5.65.

Service Properties Trust (NASDAQ:SVC) last posted its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $512.95 million during the quarter, compared to the consensus estimate of $509.33 million. During the same quarter in the previous year, the company earned $0.58 EPS. Equities analysts anticipate that Service Properties Trust will post 1.21 earnings per share for the current fiscal year.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 22nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 18.06%. The ex-dividend date was Monday, July 22nd. Service Properties Trust’s payout ratio is -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.