Service Properties Trust $SVC Stock Position Lessened by LSV Asset Management

LSV Asset Management trimmed its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 16.2% during the third quarter, Holdings Channel.com reports. The firm owned 2,577,557 shares of the real estate investment trust’s stock after selling 498,728 shares during the quarter. LSV Asset Management’s holdings in Service Properties Trust were worth $6,985,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Savant Capital LLC bought a new position in Service Properties Trust in the 3rd quarter valued at about $37,000. Allianz Asset Management GmbH raised its position in shares of Service Properties Trust by 16.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,965,472 shares of the real estate investment trust’s stock worth $8,036,000 after buying an additional 420,785 shares in the last quarter. State of Wyoming lifted its stake in shares of Service Properties Trust by 57.4% in the 3rd quarter. State of Wyoming now owns 47,550 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 17,341 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Service Properties Trust by 8.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 179,103 shares of the real estate investment trust’s stock valued at $485,000 after acquiring an additional 14,133 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Service Properties Trust in the third quarter valued at approximately $63,000. 77.62% of the stock is currently owned by institutional investors.

Service Properties Trust Stock Down 1.8%

SVC stock opened at $2.21 on Monday. The firm has a market cap of $371.48 million, a PE ratio of -1.32 and a beta of 1.46. Service Properties Trust has a 12 month low of $1.55 and a 12 month high of $3.08. The company has a debt-to-equity ratio of 5.68, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a 50 day simple moving average of $2.00 and a 200 day simple moving average of $2.23.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Monday, January 26th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, January 26th. Service Properties Trust’s payout ratio is presently -2.40%.

Analysts Set New Price Targets

Several brokerages recently commented on SVC. Zacks Research cut Service Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Wells Fargo & Company lowered their price target on Service Properties Trust from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Service Properties Trust in a report on Thursday, January 22nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $2.50.

About Service Properties Trust

Service Properties Trust (NASDAQ: SVC) is a real estate investment trust (REIT) specializing in the acquisition, ownership and leasing of service-oriented properties, with a primary focus on the lodging sector. The company structures long-term, triple-net leases with established hotel operators under franchise agreements with leading global brands. By partnering with recognized hotel companies, Service Properties Trust seeks to generate a stable income stream through rent payments, while offering operators the capital and balance-sheet flexibility to grow their portfolios.

Since its formation in 2010, Service Properties Trust has grown its portfolio through strategic sale-leaseback transactions, targeted property acquisitions and selective dispositions.