Service Properties Trust (NASDAQ:SVC) Holdings Boosted by Hennessy Advisors Inc.

Hennessy Advisors Inc. boosted its position in shares of Service Properties Trust (NASDAQ:SVC) by 44.0% during the 1st quarter, HoldingsChannel reports. The firm owned 418,800 shares of the real estate investment trust’s stock after buying an additional 127,900 shares during the quarter. Hennessy Advisors Inc.’s holdings in Service Properties Trust were worth $2,839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of Service Properties Trust by 30.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,553 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 3,135 shares during the period. Fortis Group Advisors LLC boosted its stake in shares of Service Properties Trust by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 12,338 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 6,169 shares during the period. Krane Funds Advisors LLC acquired a new stake in shares of Service Properties Trust during the 4th quarter valued at $511,000. Allianz Asset Management GmbH boosted its stake in shares of Service Properties Trust by 14.9% during the 4th quarter. Allianz Asset Management GmbH now owns 846,736 shares of the real estate investment trust’s stock valued at $7,231,000 after buying an additional 109,732 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Service Properties Trust by 14.6% in the 4th quarter. Hsbc Holdings PLC now owns 89,216 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 11,349 shares during the last quarter. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SVC has been the subject of several analyst reports. B. Riley reduced their price objective on shares of Service Properties Trust from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Wells Fargo & Company cut their target price 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.

Service Properties Trust Stock Performance

Shares of NASDAQ:SVC traded up $0.21 on Friday, hitting $5.11. 577,537 shares of the company were exchanged, compared to its average volume of 1,014,027. The company’s 50 day moving average price is $5.53 and its two-hundred day moving average price is $6.78. Service Properties Trust has a one year low of $4.81 and a one year high of $9.39. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market capitalization of $847.03 million, a price-to-earnings ratio of -6.00 and a beta of 2.18.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, April 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 15.66%. Service Properties Trust’s payout ratio is -95.24%.

About Service Properties Trust

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.