Walleye Capital LLC Buys New Shares in Service Properties Trust (NASDAQ:SVC)

Walleye Capital LLC bought a new stake in Service Properties Trust (NASDAQ:SVC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,647 shares of the real estate investment trust’s stock, valued at approximately $58,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Service Properties Trust by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,294,874 shares of the real estate investment trust’s stock valued at $28,705,000 after purchasing an additional 616,718 shares in the last quarter. Capital Management Corp VA increased its stake in Service Properties Trust by 9.6% in the third quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock valued at $23,596,000 after purchasing an additional 453,944 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Service Properties Trust by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,436,369 shares of the real estate investment trust’s stock valued at $12,522,000 after purchasing an additional 85,791 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Service Properties Trust by 395.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,038,410 shares of the real estate investment trust’s stock valued at $4,735,000 after purchasing an additional 828,765 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in 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. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Trading Down 0.8 %

NASDAQ:SVC opened at $2.59 on Friday. 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 firm has a 50-day moving average of $3.32 and a 200-day moving average of $4.42. The company has a market cap of $431.62 million, a PE ratio of -1.76 and a beta of 2.19. 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 posted its 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 for the quarter, compared to the consensus estimate of $497.97 million. During the same period in the previous year, the firm earned $0.56 earnings per share. As a group, equities research analysts expect that Service Properties Trust will post 1.13 EPS for the current fiscal year.

Service Properties Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, October 28th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Monday, October 28th. Service Properties Trust’s payout ratio is -2.72%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company decreased their price target on shares of Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating for the company in a research note on Monday.

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.