Wedbush Securities Inc. Sells 9,503 Shares of Service Properties Trust (NASDAQ:SVC)

Wedbush Securities Inc. reduced its stake in Service Properties Trust (NASDAQ:SVC) by 32.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,422 shares of the real estate investment trust’s stock after selling 9,503 shares during the quarter. Wedbush Securities Inc.’s holdings in Service Properties Trust were worth $100,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SVC. Norges Bank bought a new stake in shares of Service Properties Trust in the fourth quarter valued at approximately $9,333,000. Capital Management Corp VA boosted its stake in shares of Service Properties Trust by 11.9% in the first quarter. Capital Management Corp VA now owns 3,630,775 shares of the real estate investment trust’s stock valued at $24,617,000 after buying an additional 387,465 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Service Properties Trust in the fourth quarter valued at approximately $2,484,000. Whitebox Advisors LLC boosted its stake in shares of Service Properties Trust by 732.3% in the first quarter. Whitebox Advisors LLC now owns 228,100 shares of the real estate investment trust’s stock valued at $1,547,000 after buying an additional 200,695 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Service Properties Trust by 54.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 322,544 shares of the real estate investment trust’s stock valued at $2,187,000 after buying an additional 113,878 shares during the period. 77.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on SVC. B. Riley lowered their price objective on shares of 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 lowered their price objective on shares of Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Friday.

Service Properties Trust Stock Up 0.2 %

Shares of SVC opened at $4.61 on Monday. The firm has a 50 day simple moving average of $5.01 and a two-hundred day simple moving average of $5.59. The company has a market cap of $764.75 million, a P/E ratio of -5.49 and a beta of 2.20. The company has a debt-to-equity ratio of 3.98, a current ratio of 0.01 and a quick ratio of 0.01. Service Properties Trust has a one year low of $4.26 and a one year high of $8.72.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.94). The company had revenue of $512.95 million for the quarter, compared to analyst estimates of $509.33 million. Service Properties Trust had a negative return on equity of 17.17% and a negative net margin of 10.56%. During the same quarter last year, the company posted $0.58 earnings per share. Research analysts forecast that Service Properties Trust will post 1.21 EPS for the current fiscal year.

Service Properties Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Monday, July 22nd. This represents a $0.80 annualized dividend and a dividend yield of 17.35%. Service Properties Trust’s dividend payout ratio (DPR) is presently -95.24%.

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.