Bank of New York Mellon Corp Has $1.58 Million Position in Service Properties Trust (NASDAQ:SVC)

Bank of New York Mellon Corp lowered its holdings in Service Properties Trust (NASDAQ:SVC) by 5.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 604,919 shares of the real estate investment trust’s stock after selling 35,824 shares during the quarter. Bank of New York Mellon Corp’s holdings in Service Properties Trust were worth $1,579,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SVC. IFM Investors Pty Ltd bought a new position in Service Properties Trust during the 1st quarter valued at $100,000. Principal Financial Group Inc. purchased a new position in shares of Service Properties Trust in the 1st quarter worth about $29,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Service Properties Trust by 40.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,121 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 6,659 shares during the last quarter. CCG Wealth Management LLC purchased a new position in shares of Service Properties Trust in the 1st quarter worth about $53,000. Finally, PFG Investments LLC boosted its holdings in shares of Service Properties Trust by 39.9% in the 1st quarter. PFG Investments LLC now owns 63,150 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 18,000 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Trading Down 1.3%

Shares of Service Properties Trust stock opened at $2.93 on Wednesday. Service Properties Trust has a 52-week low of $1.71 and a 52-week high of $5.88. The stock’s 50-day simple moving average is $2.52 and its 200 day simple moving average is $2.46. The stock has a market capitalization of $488.26 million, a P/E ratio of -1.55 and a beta of 1.86. The company has a debt-to-equity ratio of 5.48, a quick ratio of 0.04 and a current ratio of 0.04.

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

Service Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Monday, July 21st. Service Properties Trust’s payout ratio is -2.12%.

Analyst Ratings Changes

Separately, B. Riley began 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.

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.