Cubist Systematic Strategies LLC Takes Position in Service Properties Trust (NASDAQ:SVC)

Cubist Systematic Strategies LLC bought a new position in shares of Service Properties Trust (NASDAQ:SVC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 83,049 shares of the real estate investment trust’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its stake in Service Properties Trust by 87.1% during the 4th 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 in the last quarter. Cibc World Markets Corp acquired a new position in Service Properties Trust during the 4th quarter worth $39,000. Corient Private Wealth LLC acquired a new position in Service Properties Trust during the 4th quarter worth $41,000. Boothbay Fund Management LLC acquired a new position in Service Properties Trust during the 4th quarter worth $48,000. Finally, BNP Paribas Financial Markets acquired a new position in Service Properties Trust during the 4th quarter worth $49,000. 77.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on SVC. B. Riley started coverage on Service Properties Trust in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $2.00 target price for the company. Wells Fargo & Company raised 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.

Service Properties Trust Stock Up 0.5%

Service Properties Trust stock opened at $2.22 on Monday. Service Properties Trust has a fifty-two week low of $1.71 and a fifty-two week high of $6.34. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $369.93 million, a P/E ratio of -1.51 and a beta of 1.77. The stock has a 50-day simple moving average of $2.18 and a 200-day simple moving average of $2.53.

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 the consensus estimate of $0.05 by $0.02. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. The business had revenue of $435.18 million during the quarter, compared to the consensus estimate of $433.21 million.

Service Properties Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, April 22nd. Service Properties Trust’s payout ratio is currently -2.12%.

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.