The Manufacturers Life Insurance Company Increases Stock Holdings in Service Properties Trust (NASDAQ:SVC)

The Manufacturers Life Insurance Company increased its holdings in Service Properties Trust (NASDAQ:SVC) by 3.8% in the second quarter, Holdings Channel.com reports. The firm owned 85,140 shares of the real estate investment trust’s stock after purchasing an additional 3,122 shares during the period. The Manufacturers Life Insurance Company’s holdings in Service Properties Trust were worth $438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC lifted its stake in shares of Service Properties Trust by 137.9% during the first quarter. FinTrust Capital Advisors LLC now owns 5,928 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 3,436 shares in the last quarter. Xponance Inc. acquired a new position in shares of Service Properties Trust in the second quarter worth about $53,000. Choreo LLC acquired a new position in shares of Service Properties Trust in the second quarter worth about $54,000. Sequoia Financial Advisors LLC bought a new stake in Service Properties Trust in the second quarter valued at about $68,000. Finally, NorthRock Partners LLC bought a new stake in Service Properties Trust in the first quarter valued at about $75,000. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Stock Performance

SVC opened at $3.98 on Thursday. The company has a market capitalization of $659.72 million, a price-to-earnings ratio of -4.74 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 1-year low of $3.77 and a 1-year high of $8.72. The business has a 50 day moving average price of $4.63 and a two-hundred day moving average price of $5.29.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SVC. B. Riley lowered their price objective on Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company decreased their price objective on Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Friday, September 13th.

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.