Daiwa Securities Group Inc. Reduces Stock Position in Service Properties Trust (NASDAQ:SVC)

Daiwa Securities Group Inc. decreased its position in Service Properties Trust (NASDAQ:SVC) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,402 shares of the real estate investment trust’s stock after selling 2,521 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Service Properties Trust were worth $430,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Capital Management Corp VA increased its position in shares of Service Properties Trust by 8.5% in the third quarter. Capital Management Corp VA now owns 2,826,085 shares of the real estate investment trust’s stock valued at $21,733,000 after acquiring an additional 220,515 shares during the period. Northern Trust Corp boosted its stake in shares of Service Properties Trust by 18.6% during the 3rd quarter. Northern Trust Corp now owns 2,511,244 shares of the real estate investment trust’s stock valued at $19,311,000 after purchasing an additional 393,555 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Service Properties Trust by 15.3% during the 3rd quarter. Invesco Ltd. now owns 2,310,176 shares of the real estate investment trust’s stock valued at $17,765,000 after purchasing an additional 307,236 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Service Properties Trust by 108.0% during the 3rd quarter. AQR Capital Management LLC now owns 635,044 shares of the real estate investment trust’s stock valued at $4,883,000 after purchasing an additional 329,690 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Service Properties Trust by 1.0% during the 3rd quarter. Swiss National Bank now owns 363,688 shares of the real estate investment trust’s stock valued at $2,797,000 after purchasing an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Service Properties Trust Stock Performance

NASDAQ:SVC opened at $6.23 on Friday. Service Properties Trust has a one year low of $5.92 and a one year high of $9.39. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.09 and a quick ratio of 0.09. The company’s 50-day simple moving average is $6.67 and its 200 day simple moving average is $7.36. The firm has a market capitalization of $1.03 billion, a P/E ratio of -31.13 and a beta of 2.18.

Service Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 12.85%. The ex-dividend date is Friday, April 19th. Service Properties Trust’s payout ratio is currently -400.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. B. Riley cut their target price on shares of Service Properties Trust from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Wells Fargo & Company cut 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.

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.