First Trust Direct Indexing L.P. Decreases Holdings in Service Properties Trust (NASDAQ:SVC)

First Trust Direct Indexing L.P. cut its holdings in Service Properties Trust (NASDAQ:SVC) by 17.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,269 shares of the real estate investment trust’s stock after selling 3,839 shares during the period. First Trust Direct Indexing L.P.’s holdings in Service Properties Trust were worth $83,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SVC. ProShare Advisors LLC increased its position in Service Properties Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 33,275 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 2,287 shares in the last quarter. Texas Permanent School Fund Corp increased its position in Service Properties Trust by 1.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 145,080 shares of the real estate investment trust’s stock worth $984,000 after purchasing an additional 2,476 shares in the last quarter. King Luther Capital Management Corp raised its stake in Service Properties Trust by 13.0% in the 2nd quarter. King Luther Capital Management Corp now owns 27,115 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 3,115 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Service Properties Trust by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,140 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 3,122 shares in the last quarter. Finally, abrdn plc boosted its stake in shares of Service Properties Trust by 10.5% during the 3rd quarter. abrdn plc now owns 33,919 shares of the real estate investment trust’s stock worth $155,000 after purchasing an additional 3,236 shares during the last quarter. 77.62% of the stock is owned by institutional investors and hedge funds.

Service Properties Trust Stock Up 11.8 %

SVC opened at $3.31 on Thursday. Service Properties Trust has a 12 month low of $2.93 and a 12 month high of $8.72. The business has a 50-day moving average of $4.30 and a two-hundred day moving average of $4.97. The company has a debt-to-equity ratio of 3.98, a current ratio of 0.01 and a quick ratio of 0.01. The stock has a market capitalization of $549.10 million, a price-to-earnings ratio of -2.71 and a beta of 2.23.

Service Properties Trust (NASDAQ:SVC) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.94). The company had revenue of $512.95 million during the quarter, compared to analysts’ expectations of $509.33 million. Service Properties Trust had a negative net margin of 10.56% and a negative return on equity of 17.17%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. On average, research analysts expect that Service Properties Trust will post 1.21 earnings per share for the current year.

Service Properties Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.04 annualized dividend and a dividend yield of 1.21%. Service Properties Trust’s dividend payout ratio is presently -3.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SVC shares. B. Riley cut their price objective on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company reduced their price target on Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, September 13th.

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.