Allspring Global Investments Holdings LLC Buys 26,056 Shares of Service Properties Trust (NASDAQ:SVC)

Allspring Global Investments Holdings LLC grew its position in Service Properties Trust (NASDAQ:SVC) by 14.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 208,666 shares of the real estate investment trust’s stock after acquiring an additional 26,056 shares during the period. Allspring Global Investments Holdings LLC owned 0.13% of Service Properties Trust worth $1,782,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SVC. NBC Securities Inc. bought a new stake in Service Properties Trust during the 3rd quarter worth approximately $25,000. FinTrust Capital Advisors LLC bought a new stake in shares of Service Properties Trust in the third quarter worth $28,000. Fortis Group Advisors LLC acquired a new stake in Service Properties Trust in the third quarter valued at $47,000. Harvest Fund Management Co. Ltd raised its position in Service Properties Trust by 490.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 7,813 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 6,489 shares during the last quarter. Finally, MQS Management LLC acquired a new position in Service Properties Trust during the 3rd quarter worth about $77,000. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Stock Performance

Shares of Service Properties Trust stock opened at $6.13 on Tuesday. The company has a market cap of $1.02 billion, a P/E ratio of -30.65 and a beta of 2.18. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 3.26. The business has a 50-day moving average price of $6.78 and a two-hundred day moving average price of $7.39. Service Properties Trust has a 1-year low of $5.92 and a 1-year high of $9.39.

Service Properties Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be issued a $0.20 dividend. The ex-dividend date is Friday, April 19th. This represents a $0.80 dividend on an annualized basis and a yield of 13.05%. Service Properties Trust’s payout ratio is currently -400.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SVC shares. Wells Fargo & Company decreased their price target on Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating for the company in a research note on Thursday, March 21st. B. Riley lowered their price target on shares of Service Properties Trust from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, March 4th.

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.