Resona Asset Management Co. Ltd. Purchases New Position in Service Properties Trust (NASDAQ:SVC)

Resona Asset Management Co. Ltd. acquired a new position in shares of Service Properties Trust (NASDAQ:SVC) during the 4th quarter, Holdings Channel reports. The fund acquired 63,944 shares of the real estate investment trust’s stock, valued at approximately $160,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SVC. Walleye Capital LLC purchased a new position in shares of Service Properties Trust in the 3rd quarter worth approximately $58,000. HighTower Advisors LLC lifted its position in Service Properties Trust by 27.0% in the third quarter. HighTower Advisors LLC now owns 74,758 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 15,914 shares during the last quarter. Stifel Financial Corp boosted its stake in Service Properties Trust by 39.8% during the third quarter. Stifel Financial Corp now owns 33,222 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 9,463 shares during the period. Wolverine Trading LLC bought a new position in Service Properties Trust during the third quarter valued at $58,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Service Properties Trust in the third quarter valued at $71,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Service Properties Trust Price Performance

Shares of SVC stock opened at $1.92 on Friday. The stock has a 50 day moving average price of $2.58 and a 200 day moving average price of $2.93. Service Properties Trust has a 52-week low of $1.71 and a 52-week high of $6.57. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market capitalization of $319.94 million, a P/E ratio of -1.31 and a beta of 1.80.

Service Properties Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $0.04 annualized dividend and a dividend yield of 2.08%. Service Properties Trust’s dividend payout ratio (DPR) is -2.40%.

Analyst Ratings Changes

Separately, Wells Fargo & Company raised shares of Service Properties Trust from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $2.50 to $4.00 in a research note on Wednesday, March 19th.

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.