State of Alaska Department of Revenue Cuts Stock Holdings in Service Properties Trust (NASDAQ:SVC)

State of Alaska Department of Revenue cut its stake in shares of Service Properties Trust (NASDAQ:SVC) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 172,882 shares of the real estate investment trust’s stock after selling 3,601 shares during the period. State of Alaska Department of Revenue owned 0.10% of Service Properties Trust worth $786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Service Properties Trust by 3,261.1% during the third quarter. International Assets Investment Management LLC now owns 36,535 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 35,448 shares in the last quarter. Fiduciary Financial Group LLC purchased a new position in shares of Service Properties Trust in the 3rd quarter valued at $179,000. Family Wealth Partners LLC acquired a new position in shares of Service Properties Trust during the 3rd quarter valued at $69,000. SG Americas Securities LLC boosted its position in Service Properties Trust by 157.6% during the 3rd quarter. SG Americas Securities LLC now owns 32,766 shares of the real estate investment trust’s stock worth $149,000 after purchasing an additional 20,046 shares during the period. Finally, Creative Planning increased its holdings in Service Properties Trust by 4.6% in the 2nd quarter. Creative Planning now owns 191,639 shares of the real estate investment trust’s stock valued at $985,000 after purchasing an additional 8,409 shares in the last quarter. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SVC shares. Wells Fargo & Company reduced their price objective on 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 reduced their price target on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Service Properties Trust Stock Performance

Service Properties Trust stock opened at $3.31 on Thursday. The company has a debt-to-equity ratio of 3.98, a current ratio of 0.01 and a quick ratio of 0.01. The firm’s fifty day moving average price is $4.30 and its 200 day moving average price is $4.97. The company has a market capitalization of $549.10 million, a price-to-earnings ratio of -2.71 and a beta of 2.23. Service Properties Trust has a 12-month low of $2.93 and a 12-month high of $8.72.

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). The business had revenue of $512.95 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.58 EPS. On average, research analysts forecast that Service Properties Trust will post 1.21 EPS for the current fiscal year.

Service Properties Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, October 28th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, October 28th. Service Properties Trust’s payout ratio is -3.28%.

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.