Envestnet Asset Management Inc. Acquires 54,549 Shares of Service Properties Trust (NASDAQ:SVC)

Envestnet Asset Management Inc. raised its stake in Service Properties Trust (NASDAQ:SVC) by 16.9% in the fourth quarter, Holdings Channel reports. The fund owned 376,899 shares of the real estate investment trust’s stock after purchasing an additional 54,549 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Service Properties Trust were worth $957,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of Service Properties Trust by 310.6% during the 3rd quarter. Barclays PLC now owns 280,421 shares of the real estate investment trust’s stock valued at $1,279,000 after acquiring an additional 212,130 shares in the last quarter. Virtu Financial LLC bought a new position in Service Properties Trust in the third quarter valued at about $170,000. PFG Investments LLC acquired a new stake in shares of Service Properties Trust during the fourth quarter valued at about $115,000. KBC Group NV grew its holdings in shares of Service Properties Trust by 140.6% during the fourth 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 during the last quarter. Finally, EMC Capital Management grew its holdings 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 purchasing an additional 22,297 shares during the last quarter. 77.62% of the stock is currently owned by institutional investors and hedge funds.

Service Properties Trust Trading Up 5.6 %

Shares of SVC stock opened at $1.90 on Friday. The stock has a 50-day moving average of $2.34 and a 200-day moving average of $2.66. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. The stock has a market cap of $316.61 million, a price-to-earnings ratio of -1.29 and a beta of 1.80. Service Properties Trust has a 1-year low of $1.71 and a 1-year high of $6.34.

Service Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $0.04 annualized dividend and a yield of 2.11%. Service Properties Trust’s payout ratio is -2.40%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SVC shares. B. Riley assumed coverage on shares of Service Properties Trust in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $2.00 target price on the stock. Wells Fargo & Company upgraded shares of Service Properties Trust from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $2.50 to $4.00 in a report on Wednesday, March 19th.

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.