Thrivent Financial for Lutherans Sells 7,334 Shares of Service Properties Trust (NASDAQ:SVC)

Thrivent Financial for Lutherans decreased its stake in shares of Service Properties Trust (NASDAQ:SVC) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 130,271 shares of the real estate investment trust’s stock after selling 7,334 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Service Properties Trust were worth $594,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SVC. Capital Management Corp VA lifted its position in shares of Service Properties Trust by 9.6% during the third quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock worth $23,596,000 after purchasing an additional 453,944 shares in the last quarter. Whitebox Advisors LLC lifted its position in shares of Service Properties Trust by 167.7% during the second quarter. Whitebox Advisors LLC now owns 610,602 shares of the real estate investment trust’s stock worth $3,138,000 after purchasing an additional 382,502 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Service Properties Trust by 65.3% during the second quarter. AQR Capital Management LLC now owns 734,572 shares of the real estate investment trust’s stock worth $3,607,000 after purchasing an additional 290,208 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Service Properties Trust by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,436,369 shares of the real estate investment trust’s stock worth $12,522,000 after purchasing an additional 85,791 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Service Properties Trust during the second quarter worth approximately $298,000. Institutional investors own 77.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SVC shares. B. Riley lowered 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 research note on Friday, August 9th. Wells Fargo & Company lowered their target price 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, November 26th.

Service Properties Trust Stock Performance

Shares of SVC stock opened at $2.81 on Thursday. The stock has a market cap of $468.28 million, a P/E ratio of -1.91 and a beta of 2.19. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. The company has a fifty day moving average price of $3.56 and a two-hundred day moving average price of $4.53. 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 announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.65). The firm had revenue of $491.17 million during the quarter, compared to analyst estimates of $497.97 million. Service Properties Trust had a negative net margin of 12.87% and a negative return on equity of 22.67%. During the same quarter in the prior year, the business earned $0.56 EPS. As a group, equities analysts predict that Service Properties Trust will post 1.13 EPS for the current year.

Service Properties Trust Cuts Dividend

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

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.