Virtu Financial LLC Takes Position in Service Properties Trust (NASDAQ:SVC)

Virtu Financial LLC acquired a new position in shares of Service Properties Trust (NASDAQ:SVC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 37,279 shares of the real estate investment trust’s stock, valued at approximately $170,000.

A number of other hedge funds have also modified their holdings of SVC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Service Properties Trust by 395.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,038,410 shares of the real estate investment trust’s stock worth $4,735,000 after acquiring an additional 828,765 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Service Properties Trust by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,294,874 shares of the real estate investment trust’s stock worth $28,705,000 after purchasing an additional 616,718 shares during the last quarter. Capital Management Corp VA boosted its holdings in Service Properties Trust by 9.6% during the third quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock worth $23,596,000 after purchasing an additional 453,944 shares during the last quarter. Whitebox Advisors LLC grew its position in Service Properties Trust by 167.7% in the second quarter. Whitebox Advisors LLC now owns 610,602 shares of the real estate investment trust’s stock valued at $3,138,000 after purchasing an additional 382,502 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Service Properties Trust by 65.3% in the 2nd quarter. AQR Capital Management LLC now owns 734,572 shares of the real estate investment trust’s stock valued at $3,607,000 after buying an additional 290,208 shares during the last quarter. 77.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Service Properties Trust Trading Down 6.6 %

Shares of Service Properties Trust stock opened at $2.39 on Thursday. Service Properties Trust has a 12-month low of $2.33 and a 12-month high of $8.72. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The business’s 50 day moving average is $3.14 and its 200-day moving average is $4.33. The stock has a market cap of $398.29 million, a P/E ratio of -1.63 and a beta of 2.19.

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

Service Properties Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, October 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Monday, October 28th. Service Properties Trust’s payout ratio is currently -2.72%.

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.