Whitebox Advisors LLC Boosts Holdings in Service Properties Trust (NASDAQ:SVC)

Whitebox Advisors LLC raised its position in shares of Service Properties Trust (NASDAQ:SVC) by 167.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 610,602 shares of the real estate investment trust’s stock after acquiring an additional 382,502 shares during the period. Whitebox Advisors LLC’s holdings in Service Properties Trust were worth $3,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Service Properties Trust in the 4th quarter worth about $9,333,000. Capital Management Corp VA raised its holdings in shares of Service Properties Trust by 11.9% in the first quarter. Capital Management Corp VA now owns 3,630,775 shares of the real estate investment trust’s stock worth $24,617,000 after buying an additional 387,465 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Service Properties Trust during the 4th quarter worth approximately $2,484,000. Allspring Global Investments Holdings LLC boosted its holdings in Service Properties Trust by 54.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 322,544 shares of the real estate investment trust’s stock valued at $2,187,000 after acquiring an additional 113,878 shares during the period. Finally, Allianz Asset Management GmbH grew its position in Service Properties Trust by 14.9% in the 4th quarter. Allianz Asset Management GmbH now owns 846,736 shares of the real estate investment trust’s stock valued at $7,231,000 after acquiring an additional 109,732 shares during the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Analyst Upgrades and Downgrades

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

Service Properties Trust Stock Up 1.6 %

Shares of SVC stock opened at $4.93 on Wednesday. Service Properties Trust has a twelve month low of $4.26 and a twelve month high of $8.72. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 3.98. The stock has a fifty day simple moving average of $4.93 and a two-hundred day simple moving average of $5.50.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.94). Service Properties Trust had a negative net margin of 10.56% and a negative return on equity of 17.17%. 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 firm earned $0.58 earnings per share. On average, research analysts expect that Service Properties Trust will post 1.21 EPS for the current year.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd were given a $0.20 dividend. The ex-dividend date was Monday, July 22nd. This represents a $0.80 annualized dividend and a dividend yield of 16.23%. Service Properties Trust’s payout ratio is presently -95.24%.

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.