Cambridge Investment Research Advisors Inc. Increases Stock Holdings in Service Properties Trust (NASDAQ:SVC)

Cambridge Investment Research Advisors Inc. grew its position in Service Properties Trust (NASDAQ:SVC) by 40.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 23,121 shares of the real estate investment trust’s stock after purchasing an additional 6,659 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Service Properties Trust were worth $60,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nantahala Capital Management LLC purchased a new stake in Service Properties Trust during the 4th quarter worth about $20,553,000. Charles Schwab Investment Management Inc. grew its holdings in Service Properties Trust by 20.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust’s stock valued at $19,188,000 after buying an additional 1,259,382 shares during the period. Geode Capital Management LLC lifted its stake in shares of Service Properties Trust by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,563,212 shares of the real estate investment trust’s stock valued at $11,593,000 after purchasing an additional 53,389 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Service Properties Trust in the 4th quarter valued at about $6,900,000. Finally, Jane Street Group LLC lifted its stake in shares of Service Properties Trust by 2,999.1% in the 4th quarter. Jane Street Group LLC now owns 2,518,890 shares of the real estate investment trust’s stock valued at $6,398,000 after purchasing an additional 2,437,613 shares in the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Service Properties Trust Price Performance

Shares of NASDAQ SVC opened at $2.73 on Wednesday. The company has a market capitalization of $454.92 million, a price-to-earnings ratio of -1.44 and a beta of 1.86. The business has a 50 day simple moving average of $2.38 and a 200-day simple moving average of $2.44. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 5.48. Service Properties Trust has a twelve month low of $1.71 and a twelve month high of $6.34.

Service Properties Trust (NASDAQ:SVC) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Service Properties Trust had a negative return on equity of 35.59% and a negative net margin of 16.54%. The company had revenue of $435.18 million during the quarter, compared to analyst estimates of $433.21 million.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, July 21st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, July 21st. Service Properties Trust’s payout ratio is -2.12%.

Analyst Ratings Changes

Several research firms have recently weighed in on SVC. B. Riley initiated coverage on Service Properties Trust in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $2.00 price objective on the stock. Wells Fargo & Company upgraded Service Properties Trust from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $2.50 to $4.00 in a report on Wednesday, March 19th.

Service Properties Trust 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.