CM Management LLC Has $1.14 Million Position in Service Properties Trust (NASDAQ:SVC)

CM Management LLC raised its stake in shares of Service Properties Trust (NASDAQ:SVC) by 50.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 450,000 shares of the real estate investment trust’s stock after purchasing an additional 150,000 shares during the quarter. CM Management LLC owned 0.27% of Service Properties Trust worth $1,143,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. KBC Group NV boosted its stake in shares of Service Properties Trust by 140.6% in the 4th quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 11,491 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Service Properties Trust in the third quarter valued at about $58,000. Wolverine Trading LLC acquired a new stake in Service Properties Trust in the 3rd quarter valued at about $58,000. EMC Capital Management increased its holdings in shares of Service Properties Trust by 1,031.3% in the fourth quarter. EMC Capital Management now owns 24,459 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 22,297 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Service Properties Trust during the third quarter worth $71,000. Institutional investors and hedge funds own 77.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their price target on shares of Service Properties Trust from $2.75 to $2.50 and set an “underweight” rating on the stock in a report on Tuesday, February 18th.

Service Properties Trust Stock Up 1.0 %

SVC stock opened at $2.90 on Friday. The stock has a market cap of $483.25 million, a price-to-earnings ratio of -1.97 and a beta of 2.21. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 4.32. Service Properties Trust has a 1-year low of $2.29 and a 1-year high of $6.85. The company’s 50 day moving average is $2.71 and its 200 day moving average is $3.34.

Service Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $0.04 dividend on an annualized basis and a yield of 1.38%. Service Properties Trust’s dividend payout ratio is currently -2.40%.

Service Properties Trust 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.