Service Properties Trust $SVC Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Service Properties Trust (NASDAQ:SVC) by 80.5% in the 3rd quarter, Holdings Channel reports. The fund owned 123,816 shares of the real estate investment trust’s stock after selling 511,499 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Service Properties Trust were worth $797,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SVC. Vise Technologies Inc. bought a new position in shares of Service Properties Trust during the 3rd quarter valued at about $74,000. Sequoia Financial Advisors LLC acquired a new position in shares of Service Properties Trust in the 2nd quarter valued at approximately $66,000. WINTON GROUP Ltd increased its stake in Service Properties Trust by 94.8% during the 2nd quarter. WINTON GROUP Ltd now owns 67,000 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 32,600 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Service Properties Trust during the 2nd quarter worth approximately $71,000. Finally, Arizona State Retirement System bought a new stake in Service Properties Trust during the 2nd quarter worth approximately $279,000. 77.62% of the stock is currently owned by institutional investors.

Service Properties Trust Price Performance

SVC stock opened at $5.20 on Monday. The stock has a 50-day moving average price of $6.53 and a two-hundred day moving average price of $8.25. Service Properties Trust has a 1 year low of $5.18 and a 1 year high of $12.15. The stock has a market cap of $675.01 million, a PE ratio of -0.74 and a beta of 1.78. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 2.39.

Service Properties Trust (NASDAQ:SVC) last issued its quarterly earnings results on Wednesday, November 4th. The real estate investment trust reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.39). The firm had revenue of $399.52 million during the quarter, compared to the consensus estimate of $318.62 million. Service Properties Trust had a negative net margin of 29.31% and a negative return on equity of 69.76%. Equities analysts forecast that Service Properties Trust will post 1.15 EPS for the current fiscal year.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 19th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, October 19th. Service Properties Trust’s dividend payout ratio (DPR) is currently -2.87%.

Analyst Upgrades and Downgrades

SVC has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Service Properties Trust from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings cut shares of Service Properties Trust from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. Zacks Research upgraded shares of Service Properties Trust from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, Loop Capital set a $9.00 price objective on shares of Service Properties Trust in a research report on Friday, October 2nd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Service Properties Trust currently has an average rating of “Hold” and an average price target of $12.05.

About Service Properties Trust

Service Properties Trust (NASDAQ:SVC) is a real estate investment trust that owns and invests in hospitality and service-oriented properties. The company’s portfolio has historically included hotels, extended-stay lodging properties and other real estate leased to businesses that provide essential or consumer-focused services.

Service Properties Trust generally leases its properties to hotel operators and other commercial tenants rather than managing most locations directly. Its hotel portfolio has included properties operated under a variety of well-known brands, while its service-focused properties have supported businesses such as healthcare, automotive and travel-related services.

The company’s properties are primarily located in the United States, with investments also having included select locations in Canada and Puerto Rico.