Barclays PLC Raises Stake in Service Properties Trust (NASDAQ:SVC)

Barclays PLC increased its position in Service Properties Trust (NASDAQ:SVC) by 310.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 280,421 shares of the real estate investment trust’s stock after acquiring an additional 212,130 shares during the period. Barclays PLC’s holdings in Service Properties Trust were worth $1,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in Service Properties Trust by 3.5% during the third quarter. Geode Capital Management LLC now owns 4,509,823 shares of the real estate investment trust’s stock worth $20,568,000 after purchasing an additional 151,234 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Service Properties Trust by 2.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 211,100 shares of the real estate investment trust’s stock valued at $963,000 after buying an additional 5,400 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Service Properties Trust in the 3rd quarter worth $71,000. Whitebox Advisors LLC boosted its holdings in Service Properties Trust by 4.9% in the third quarter. Whitebox Advisors LLC now owns 640,602 shares of the real estate investment trust’s stock valued at $2,921,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Wolverine Trading LLC purchased a new stake in Service Properties Trust during the third quarter valued at about $58,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Service Properties Trust Trading Up 1.2 %

NASDAQ SVC opened at $2.60 on Tuesday. The company has a market capitalization of $433.28 million, a price-to-earnings ratio of -1.77 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. Service Properties Trust has a 12 month low of $2.29 and a 12 month high of $8.15. The company’s fifty day moving average price is $2.69 and its two-hundred day moving average price is $4.00.

Service Properties Trust (NASDAQ:SVC) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.28) earnings per share (EPS) 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 firm had revenue of $491.17 million for the quarter, compared to analyst estimates of $497.97 million. During the same period in the prior year, the company posted $0.56 earnings per share. As a group, research analysts predict that Service Properties Trust will post 1.13 earnings per share 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 was Monday, October 28th. Service Properties Trust’s payout ratio is -2.72%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company dropped their price objective on shares of Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating for the company in a research report on Monday, December 9th.

About Service Properties Trust

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.