Creative Planning Buys 8,409 Shares of Service Properties Trust (NASDAQ:SVC)

Creative Planning grew its stake in shares of Service Properties Trust (NASDAQ:SVC) by 4.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 191,639 shares of the real estate investment trust’s stock after purchasing an additional 8,409 shares during the quarter. Creative Planning’s holdings in Service Properties Trust were worth $985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Service Properties Trust by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 85,140 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 3,122 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of Service Properties Trust in the second quarter valued at $145,000. AQR Capital Management LLC grew its holdings in shares of Service Properties Trust by 65.3% in the second quarter. AQR Capital Management LLC now owns 734,572 shares of the real estate investment trust’s stock valued at $3,607,000 after purchasing an additional 290,208 shares in the last quarter. Caxton Associates LP grew its holdings in shares of Service Properties Trust by 23.9% in the second quarter. Caxton Associates LP now owns 51,292 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 9,891 shares in the last quarter. Finally, Whitebox Advisors LLC grew its holdings in shares of Service Properties Trust by 167.7% in the second quarter. Whitebox Advisors LLC now owns 610,602 shares of the real estate investment trust’s stock valued at $3,138,000 after purchasing an additional 382,502 shares in the last quarter. Institutional investors own 77.62% of the company’s stock.

Analyst Ratings Changes

SVC has been the subject of a number of recent research reports. B. Riley cut their target price on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report 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 for the company in a report on Friday, September 13th.

Service Properties Trust Price Performance

NASDAQ SVC opened at $4.71 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 fifty day moving average of $4.69 and a two-hundred day moving average of $5.37. The firm has a market capitalization of $780.73 million, a price-to-earnings ratio of -5.61 and a beta of 2.20. Service Properties Trust has a 52 week low of $4.26 and a 52 week high of $8.72.

Service Properties Trust (NASDAQ:SVC) last posted its quarterly earnings data 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). The firm had revenue of $512.95 million for the quarter, compared to analysts’ expectations of $509.33 million. Service Properties Trust had a negative return on equity of 17.17% and a negative net margin of 10.56%. During the same period in the previous year, the firm earned $0.58 earnings per share. On average, analysts predict that Service Properties Trust will post 1.21 earnings per share for the current year.

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.