Service Properties Trust $SVC Stake Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in shares of Service Properties Trust (NASDAQ:SVC) by 76.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,157 shares of the real estate investment trust’s stock after selling 238,559 shares during the quarter. State of Alaska Department of Revenue’s holdings in Service Properties Trust were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Yorkville Advisors Global LP purchased a new stake in Service Properties Trust in the first quarter worth about $28,333,000. Bank of New York Mellon Corp bought a new stake in Service Properties Trust during the 2nd quarter valued at approximately $3,691,000. Public Employees Retirement System of Ohio bought a new stake in Service Properties Trust during the 2nd quarter valued at approximately $1,153,000. Headlands Technologies LLC bought a new stake in Service Properties Trust during the 2nd quarter valued at approximately $543,000. Finally, Arizona State Retirement System purchased a new position in shares of Service Properties Trust during the 2nd quarter worth approximately $279,000. 77.62% of the stock is owned by institutional investors.

Service Properties Trust Price Performance

SVC opened at $6.15 on Friday. The stock has a 50-day moving average price of $6.89 and a 200-day moving average price of $7.69. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.01 and a quick ratio of 0.01. The firm has a market cap of $796.49 million, a PE ratio of -0.80 and a beta of 1.72. Service Properties Trust has a 1 year low of $5.65 and a 1 year high of $12.15.

Service Properties Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Monday, October 19th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, October 19th. Service Properties Trust’s dividend payout ratio is -2.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SVC shares. Weiss Ratings lowered Service Properties Trust from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. Loop Capital set a $9.00 target price on Service Properties Trust in a research note on Friday, October 2nd. LADENBURG THALM/SH SH initiated coverage on Service Properties Trust in a research report on Tuesday, June 30th. They set a “buy” rating and a $11.25 price target on the stock. Finally, Zacks Research upgraded Service Properties Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.05.

Service Properties Trust Profile

Service Properties Trust (NASDAQ:SVC) is a real estate investment trust that owns and invests in hospitality and service-oriented properties. The company’s portfolio has historically included hotels, extended-stay lodging properties and other real estate leased to businesses that provide essential or consumer-focused services.

Service Properties Trust generally leases its properties to hotel operators and other commercial tenants rather than managing most locations directly. Its hotel portfolio has included properties operated under a variety of well-known brands, while its service-focused properties have supported businesses such as healthcare, automotive and travel-related services.

The company’s properties are primarily located in the United States, with investments also having included select locations in Canada and Puerto Rico.