Public Sector Pension Investment Board Acquires 20,736 Shares of Service Properties Trust (NASDAQ:SVC)

Public Sector Pension Investment Board increased its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 6.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 364,727 shares of the real estate investment trust’s stock after acquiring an additional 20,736 shares during the period. Public Sector Pension Investment Board’s holdings in Service Properties Trust were worth $1,875,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SVC. Norges Bank bought a new position in Service Properties Trust in the 4th quarter worth about $9,333,000. Texas Permanent School Fund Corp grew its stake in Service Properties Trust by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock worth $984,000 after purchasing an additional 2,476 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Service Properties Trust by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,570 shares of the real estate investment trust’s stock worth $682,000 after purchasing an additional 5,948 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Service Properties Trust during the 2nd quarter valued at $68,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Service Properties Trust by 7.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 54,003 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 3,601 shares during the period. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Service Properties Trust Stock Down 6.0 %

Service Properties Trust stock opened at $4.56 on Tuesday. Service Properties Trust has a twelve month low of $4.26 and a twelve month high of $8.72. The business has a fifty day moving average of $4.85 and a two-hundred day moving average of $5.46. The firm has a market cap of $755.87 million, a P/E ratio of -5.43 and a beta of 2.20. 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 (NASDAQ:SVC) last issued its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates 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 in the previous year, the business earned $0.58 EPS. On average, analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 17.54%. The ex-dividend date was Monday, July 22nd. Service Properties Trust’s payout ratio is currently -95.24%.

Analysts Set New Price Targets

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

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.