Grandview Asset Management LLC Purchases 10,003 Shares of Service Properties Trust $SVC

Grandview Asset Management LLC raised its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 14.8% in the second quarter, Holdings Channel reports. The institutional investor owned 77,516 shares of the real estate investment trust’s stock after buying an additional 10,003 shares during the quarter. Grandview Asset Management LLC’s holdings in Service Properties Trust were worth $185,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its position in shares of Service Properties Trust by 2.1% during the second quarter. Public Employees Retirement System of Ohio now owns 261,809 shares of the real estate investment trust’s stock worth $626,000 after purchasing an additional 5,457 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Service Properties Trust by 40.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,121 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 6,659 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Service Properties Trust by 13.7% during the first quarter. Resona Asset Management Co. Ltd. now owns 72,673 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 8,729 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Service Properties Trust by 160.2% in the first quarter. PNC Financial Services Group Inc. now owns 15,531 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 9,562 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Service Properties Trust in the first quarter valued at about $29,000. Institutional investors own 77.62% of the company’s stock.

Service Properties Trust Price Performance

Service Properties Trust stock opened at $2.75 on Friday. Service Properties Trust has a 52 week low of $1.71 and a 52 week high of $4.99. The business has a 50-day simple moving average of $2.72 and a 200 day simple moving average of $2.45. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 5.79. The stock has a market cap of $458.87 million, a price-to-earnings ratio of -1.65 and a beta of 1.86.

Service Properties Trust (NASDAQ:SVC) last posted its quarterly earnings data on Tuesday, August 5th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Service Properties Trust had a negative return on equity of 34.61% and a negative net margin of 14.73%.The firm had revenue of $503.44 million during the quarter, compared to analysts’ expectations of $497.53 million.

Service Properties Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, July 21st were paid a $0.01 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. Service Properties Trust’s dividend payout ratio is presently -2.40%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SVC shares. Zacks Research lowered Service Properties Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 19th. B. Riley reiterated a “neutral” rating and set a $3.00 price target (up from $2.00) on shares of Service Properties Trust in a report on Thursday. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $2.50 target price (down from $3.00) on shares of Service Properties Trust in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $2.75.

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.