Deerfield Management Company L.P. Series C Makes New $145,000 Investment in Service Properties Trust (NASDAQ:SVC)

Deerfield Management Company L.P. Series C purchased a new stake in Service Properties Trust (NASDAQ:SVC) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 28,245 shares of the real estate investment trust’s stock, valued at approximately $145,000.

A number of other hedge funds also recently made changes to their positions in SVC. ProShare Advisors LLC boosted its stake in Service Properties Trust by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 33,275 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 2,287 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Service Properties Trust by 1.7% during the first quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock valued at $984,000 after acquiring an additional 2,476 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Service Properties Trust by 1.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 188,400 shares of the real estate investment trust’s stock valued at $1,609,000 after purchasing an additional 2,900 shares in the last quarter. King Luther Capital Management Corp grew its holdings in shares of Service Properties Trust by 13.0% in the 2nd quarter. King Luther Capital Management Corp now owns 27,115 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 3,115 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Service Properties Trust by 30.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,553 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 3,135 shares in the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SVC. Wells Fargo & Company decreased their price objective on shares of Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, September 13th. B. Riley dropped their price target on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Service Properties Trust Stock Up 0.6 %

Shares of NASDAQ SVC opened at $4.85 on Friday. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 3.98. The company has a market cap of $803.94 million, a price-to-earnings ratio of -5.77 and a beta of 2.20. Service Properties Trust has a 12-month low of $4.26 and a 12-month high of $8.72. The firm’s 50-day simple moving average is $4.85 and its 200 day simple moving average is $5.48.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) EPS 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 company had revenue of $512.95 million for the quarter, compared to the consensus estimate of $509.33 million. During the same period last year, the company earned $0.58 earnings per share. On average, research analysts expect that Service Properties Trust will post 1.21 earnings per share for the current fiscal year.

Service Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, July 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 16.49%. Service Properties Trust’s payout ratio is currently -95.24%.

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.