Raymond James Financial Services Advisors Inc. Decreases Stake in Service Properties Trust (NASDAQ:SVC)

Raymond James Financial Services Advisors Inc. reduced its stake in Service Properties Trust (NASDAQ:SVC) by 10.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,937 shares of the real estate investment trust’s stock after selling 3,653 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Service Properties Trust were worth $281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SVC. NBC Securities Inc. purchased a new position in Service Properties Trust during the 3rd quarter worth approximately $25,000. FinTrust Capital Advisors LLC purchased a new position in Service Properties Trust during the 3rd quarter worth approximately $28,000. Fortis Group Advisors LLC purchased a new position in Service Properties Trust during the 3rd quarter worth approximately $47,000. Harvest Fund Management Co. Ltd raised its position in Service Properties Trust by 490.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 7,813 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 6,489 shares during the last quarter. Finally, MQS Management LLC purchased a new position in Service Properties Trust during the 3rd quarter worth approximately $77,000. 77.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SVC shares. Wells Fargo & Company reduced their price target on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating for the company in a research report on Thursday, March 21st. B. Riley dropped their price objective on shares of Service Properties Trust from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 4th.

Service Properties Trust Price Performance

Shares of NASDAQ SVC opened at $6.13 on Tuesday. The firm’s 50 day simple moving average is $6.78 and its 200-day simple moving average is $7.39. Service Properties Trust has a 12 month low of $5.92 and a 12 month high of $9.39. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -30.65 and a beta of 2.18. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.09 and a quick ratio of 0.09.

Service Properties Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, April 22nd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $0.80 dividend on an annualized basis and a yield of 13.05%. Service Properties Trust’s dividend payout ratio is currently -400.00%.

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.