Service Properties Trust (NASDAQ:SVC) Shares Sold by Kendall Capital Management

Kendall Capital Management reduced its position in Service Properties Trust (NASDAQ:SVC) by 21.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 30,900 shares of the real estate investment trust’s stock after selling 8,550 shares during the quarter. Kendall Capital Management’s holdings in Service Properties Trust were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of Service Properties Trust by 12.3% during the third quarter. Van ECK Associates Corp now owns 28,352 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 3,112 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Service Properties Trust by 1.5% during the third quarter. Asset Management One Co. Ltd. now owns 247,449 shares of the real estate investment trust’s stock worth $1,128,000 after purchasing an additional 3,594 shares during the period. MQS Management LLC lifted its holdings in shares of Service Properties Trust by 34.0% during the third quarter. MQS Management LLC now owns 23,176 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 5,882 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Service Properties Trust by 38.8% during the third quarter. Metis Global Partners LLC now owns 18,082 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 5,056 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Service Properties Trust by 17.3% during the third quarter. Intech Investment Management LLC now owns 67,969 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 10,000 shares during the period. 77.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Service Properties Trust Price Performance

Shares of NASDAQ SVC opened at $2.90 on Monday. The stock has a fifty day moving average price of $2.71 and a 200 day moving average price of $3.33. The company has a market cap of $483.25 million, a PE ratio of -1.97 and a beta of 2.21. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.03 and a quick ratio of 0.03. Service Properties Trust has a 1-year low of $2.29 and a 1-year high of $6.85.

Service Properties Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, January 27th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, January 27th. Service Properties Trust’s payout ratio is -2.40%.

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.