CANADA LIFE ASSURANCE Co Sells 155,127 Shares of Service Properties Trust (NASDAQ:SVC)

CANADA LIFE ASSURANCE Co cut its holdings in Service Properties Trust (NASDAQ:SVC) by 44.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 194,592 shares of the real estate investment trust’s stock after selling 155,127 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Service Properties Trust were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SVC. Quadrant Capital Group LLC grew its stake in Service Properties Trust by 87.1% during the fourth quarter. Quadrant Capital Group LLC now owns 10,616 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 4,942 shares during the period. Cibc World Markets Corp bought a new position in shares of Service Properties Trust during the 4th quarter worth approximately $39,000. Corient Private Wealth LLC acquired a new stake in shares of Service Properties Trust during the 4th quarter worth approximately $41,000. KBC Group NV grew its position in shares of 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 buying an additional 11,491 shares during the period. Finally, RPO LLC bought a new stake in shares of Service Properties Trust in the 4th quarter valued at $56,000. 77.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Service Properties Trust from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $2.50 to $4.00 in a report on Wednesday, March 19th. B. Riley started coverage on Service Properties Trust in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $2.00 target price for the company.

Service Properties Trust Trading Up 0.5 %

NASDAQ SVC opened at $1.86 on Wednesday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a 52 week low of $1.71 and a 52 week high of $6.34. The business has a 50 day moving average price of $2.37 and a 200-day moving average price of $2.69. The company has a market cap of $309.94 million, a price-to-earnings ratio of -1.27 and a beta of 1.80.

Service Properties Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 2.15%. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.40%.

Service Properties Trust Company Profile

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.