Nomura Asset Management Co. Ltd. Boosts Stake in Service Properties Trust (NASDAQ:SVC)

Nomura Asset Management Co. Ltd. raised its holdings in Service Properties Trust (NASDAQ:SVC) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,100 shares of the real estate investment trust’s stock after acquiring an additional 5,400 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.13% of Service Properties Trust worth $963,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Xponance Inc. bought a new stake in shares of Service Properties Trust during the 2nd quarter worth $53,000. Choreo LLC bought a new stake in Service Properties Trust during the second quarter worth about $54,000. Wolverine Trading LLC bought a new stake in Service Properties Trust during the third quarter worth about $58,000. Walleye Capital LLC purchased a new position in shares of Service Properties Trust in the 3rd quarter worth about $58,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Service Properties Trust during the 2nd quarter valued at about $68,000. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Price Performance

Shares of NASDAQ:SVC opened at $2.51 on Friday. The company’s fifty day moving average is $3.27 and its 200 day moving average is $4.40. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a 52 week low of $2.42 and a 52 week high of $8.72. The stock has a market cap of $418.29 million, a PE ratio of -1.71 and a beta of 2.19.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.28) EPS for the quarter, missing the consensus estimate of $0.37 by ($0.65). The company had revenue of $491.17 million during the quarter, compared to analysts’ expectations of $497.97 million. Service Properties Trust had a negative return on equity of 22.67% and a negative net margin of 12.87%. During the same quarter in the prior year, the firm posted $0.56 EPS. Research analysts anticipate that Service Properties Trust will post 1.13 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, October 28th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, October 28th. Service Properties Trust’s dividend payout ratio (DPR) is presently -2.72%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their target price on Service Properties Trust from $3.00 to $2.75 and set an “underweight” rating for the company in a research report on Monday, December 9th.

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.