Service Properties Trust (NASDAQ:SVC) Position Lessened by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Service Properties Trust (NASDAQ:SVC) by 41.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,751 shares of the real estate investment trust’s stock after selling 102,532 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Service Properties Trust worth $660,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Xponance Inc. bought a new stake in shares of Service Properties Trust during the second quarter valued at approximately $53,000. Choreo LLC bought a new stake in Service Properties Trust during the 2nd quarter valued at $54,000. Sequoia Financial Advisors LLC acquired a new position in Service Properties Trust during the 2nd quarter worth $68,000. Family Wealth Partners LLC bought a new position in shares of Service Properties Trust in the third quarter worth $69,000. Finally, Metis Global Partners LLC increased its holdings in shares of Service Properties Trust by 38.8% during the third quarter. Metis Global Partners LLC now owns 18,082 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 5,056 shares during the period. 77.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SVC has been the subject of several research analyst reports. B. Riley reduced their price objective 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 reduced their price target on shares of Service Properties Trust from $4.00 to $3.00 and set an “underweight” rating for the company in a research note on Tuesday.

Service Properties Trust Stock Up 1.1 %

SVC opened at $2.79 on Friday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $464.95 million, a PE ratio of -1.90 and a beta of 2.23. The stock’s fifty day moving average is $3.72 and its 200-day moving average is $4.62. Service Properties Trust has a one year low of $2.47 and a one year high of $8.72.

Service Properties Trust (NASDAQ:SVC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.65). Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. The business had revenue of $491.17 million during the quarter, compared to the consensus estimate of $497.97 million. During the same quarter last year, the firm posted $0.56 earnings per share. On average, equities analysts predict that Service Properties Trust will post 1.13 EPS for the current fiscal year.

Service Properties Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Monday, October 28th. Service Properties Trust’s payout ratio is -2.72%.

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.