Charles Schwab Investment Management Inc. Purchases 616,718 Shares of Service Properties Trust (NASDAQ:SVC)

Charles Schwab Investment Management Inc. lifted its position in Service Properties Trust (NASDAQ:SVC) by 10.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,294,874 shares of the real estate investment trust’s stock after buying an additional 616,718 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Service Properties Trust were worth $28,705,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Service Properties Trust by 6.3% during the first 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 second quarter worth approximately $68,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Service Properties Trust by 48.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,820 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 12,374 shares during the period. Choreo LLC bought a new stake in Service Properties Trust during the second quarter worth approximately $54,000. Finally, Texas Permanent School Fund Corp boosted its position in Service Properties Trust by 25.5% during the second quarter. Texas Permanent School Fund Corp now owns 182,043 shares of the real estate investment trust’s stock worth $936,000 after purchasing an additional 36,963 shares during the period. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Stock Down 0.7 %

SVC opened at $2.81 on Thursday. Service Properties Trust has a 1-year low of $2.47 and a 1-year high of $8.72. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $468.28 million, a price-to-earnings ratio of -1.91 and a beta of 2.19. The business has a 50 day moving average of $3.56 and a 200-day moving average of $4.53.

Service Properties Trust (NASDAQ:SVC) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.65). Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. The business had revenue of $491.17 million during the quarter, compared to the consensus estimate of $497.97 million. During the same period in the prior year, the company posted $0.56 earnings per share. As a group, sell-side analysts anticipate that Service Properties Trust will post 1.13 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were given a $0.01 dividend. The ex-dividend date was Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.42%. Service Properties Trust’s dividend payout ratio is -2.72%.

Analyst Ratings Changes

SVC has been the subject of a number of recent analyst reports. B. Riley decreased their target price on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company decreased their target price on Service Properties Trust from $4.00 to $3.00 and set an “underweight” rating for the company in a research report on Tuesday, November 26th.

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.