Cibc World Markets Corp Takes $39,000 Position in Service Properties Trust (NASDAQ:SVC)

Cibc World Markets Corp purchased a new position in Service Properties Trust (NASDAQ:SVC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,439 shares of the real estate investment trust’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Corient Private Wealth LLC acquired a new stake in shares of Service Properties Trust in the 4th quarter valued at $41,000. KBC Group NV increased its position in Service Properties Trust by 140.6% during the 4th quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 11,491 shares in the last quarter. Walleye Capital LLC bought a new position in Service Properties Trust in the 3rd quarter valued at approximately $58,000. Wolverine Trading LLC acquired a new stake in Service Properties Trust in the third quarter valued at approximately $58,000. Finally, EMC Capital Management grew its stake in shares of Service Properties Trust by 1,031.3% during the fourth quarter. EMC Capital Management now owns 24,459 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 22,297 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded Service Properties Trust from an “underweight” rating to an “overweight” rating and increased their price target for the company from $2.50 to $4.00 in a research note on Wednesday, March 19th.

Service Properties Trust Stock Down 2.6 %

NASDAQ:SVC opened at $2.63 on Friday. Service Properties Trust has a one year low of $2.29 and a one year high of $6.85. 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 market cap of $438.26 million, a PE ratio of -1.79 and a beta of 2.21. The firm’s 50 day simple moving average is $2.73 and its 200 day simple moving average is $3.14.

Service Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were paid a $0.01 dividend. The ex-dividend date was Monday, January 27th. This represents a $0.04 annualized dividend and a dividend yield of 1.52%. Service Properties Trust’s dividend payout ratio is -2.40%.

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.