Smith Asset Management Co. LLC Invests $49,000 in Service Properties Trust $SVC

Smith Asset Management Co. LLC purchased a new stake in Service Properties Trust (NASDAQ:SVC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 18,827 shares of the real estate investment trust’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Family Wealth Partners LLC acquired a new position in Service Properties Trust in the 1st quarter valued at about $29,000. Principal Financial Group Inc. acquired a new position in Service Properties Trust in the 1st quarter valued at about $29,000. Signaturefd LLC grew its stake in Service Properties Trust by 3,016.3% in the 1st quarter. Signaturefd LLC now owns 11,873 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 11,492 shares during the last quarter. Tidal Investments LLC acquired a new position in Service Properties Trust in the 4th quarter valued at about $33,000. Finally, PNC Financial Services Group Inc. grew its stake in Service Properties Trust by 160.2% in 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 buying an additional 9,562 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Stock Performance

NASDAQ SVC opened at $2.81 on Tuesday. 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 company has a market capitalization of $468.88 million, a P/E ratio of -1.68 and a beta of 1.86. Service Properties Trust has a 12-month low of $1.71 and a 12-month high of $5.00. The firm has a 50-day moving average price of $2.68 and a two-hundred day moving average price of $2.44.

Service Properties Trust (NASDAQ:SVC) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Service Properties Trust had a negative net margin of 14.73% and a negative return on equity of 34.61%. The firm had revenue of $503.44 million during the quarter, compared to the consensus estimate of $497.53 million.

Service Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, July 21st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, July 21st. Service Properties Trust’s dividend payout ratio is -2.40%.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered shares of Service Properties Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 19th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Service Properties Trust presently has an average rating of “Hold” and an average target price of $3.00.

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.