Los Angeles Capital Management LLC Purchases 445,866 Shares of Service Properties Trust $SVC

Los Angeles Capital Management LLC increased its holdings in Service Properties Trust (NASDAQ:SVC) by 247.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 625,705 shares of the real estate investment trust’s stock after acquiring an additional 445,866 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Service Properties Trust were worth $1,495,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Service Properties Trust in the 1st quarter worth approximately $29,000. Signaturefd LLC lifted its holdings in Service Properties Trust by 3,016.3% during the first quarter. Signaturefd LLC now owns 11,873 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 11,492 shares during the period. PNC Financial Services Group Inc. boosted its position in Service Properties Trust by 160.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 9,562 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Service Properties Trust in the 1st quarter valued at $43,000. Finally, CWM LLC increased its holdings in shares of Service Properties Trust by 278.5% in the 1st quarter. CWM LLC now owns 17,153 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 12,621 shares during the period. Institutional investors own 77.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Zacks Research downgraded Service Properties Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Service Properties Trust in a research note on Wednesday, October 8th. B. Riley reissued a “neutral” rating and set a $3.00 target price (up previously from $2.00) on shares of Service Properties Trust in a research report on Thursday, September 25th. Finally, Wells Fargo & Company raised shares of Service Properties Trust to a “hold” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $2.75.

Service Properties Trust Stock Down 5.8%

SVC stock opened at $1.80 on Wednesday. The stock has a market capitalization of $302.55 million, a PE ratio of -1.08 and a beta of 1.86. Service Properties Trust has a 52 week low of $1.71 and a 52 week high of $3.08. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 5.79. The firm has a 50 day moving average of $2.48 and a 200 day moving average of $2.47.

Service Properties Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, October 27th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.2%. Service Properties Trust’s payout ratio is -2.40%.

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.