Baugh & Associates LLC Cuts Stake in Service Properties Trust (NASDAQ:SVC)

Baugh & Associates LLC decreased its holdings in Service Properties Trust (NASDAQ:SVC) by 0.8% in the first quarter, Holdings Channel reports. The firm owned 299,731 shares of the real estate investment trust’s stock after selling 2,364 shares during the period. Service Properties Trust comprises about 1.1% of Baugh & Associates LLC’s portfolio, making the stock its 29th largest position. Baugh & Associates LLC’s holdings in Service Properties Trust were worth $2,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SVC. PNC Financial Services Group Inc. raised its position in Service Properties Trust by 30.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,553 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 3,135 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Service Properties Trust in the 4th quarter valued at $2,484,000. Fortis Group Advisors LLC boosted its holdings in Service Properties Trust by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 12,338 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 6,169 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Service Properties Trust during the fourth quarter valued at $511,000. Finally, Allianz Asset Management GmbH increased its holdings in Service Properties Trust by 14.9% in the fourth quarter. Allianz Asset Management GmbH now owns 846,736 shares of the real estate investment trust’s stock valued at $7,231,000 after buying an additional 109,732 shares in the last quarter. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a research note on Thursday, March 21st. B. Riley decreased their target price on Service Properties Trust from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, May 13th.

Service Properties Trust Trading Up 2.9 %

Shares of NASDAQ:SVC traded up $0.14 during midday trading on Friday, reaching $5.04. 320,681 shares of the company’s stock were exchanged, compared to its average volume of 1,012,222. The stock has a market cap of $835.43 million, a price-to-earnings ratio of -5.83 and a beta of 2.18. Service Properties Trust has a fifty-two week low of $4.81 and a fifty-two week high of $9.39. The firm’s 50 day simple moving average is $5.53 and its two-hundred day simple moving average is $6.78. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.04 and a quick ratio of 0.04.

Service Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $0.80 annualized dividend and a dividend yield of 15.87%. Service Properties Trust’s dividend payout ratio is presently -95.24%.

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.