Allianz Asset Management GmbH Boosts Position in Service Properties Trust $SVC

Allianz Asset Management GmbH grew its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 16.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,965,472 shares of the real estate investment trust’s stock after acquiring an additional 420,785 shares during the quarter. Allianz Asset Management GmbH owned 1.78% of Service Properties Trust worth $8,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SVC. BNP Paribas Financial Markets lifted its holdings in shares of Service Properties Trust by 54.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 14,470 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 5,099 shares during the period. Quadrature Capital Ltd boosted its holdings in shares of Service Properties Trust by 45.3% in the second quarter. Quadrature Capital Ltd now owns 17,911 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 5,588 shares during the period. Metis Global Partners LLC increased its holdings in Service Properties Trust by 30.0% during the second quarter. Metis Global Partners LLC now owns 27,466 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 6,343 shares during the period. Cerity Partners LLC lifted its holdings in shares of Service Properties Trust by 40.2% during the 2nd quarter. Cerity Partners LLC now owns 29,838 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 8,554 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Service Properties Trust by 8.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 179,103 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 14,133 shares during the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SVC. Wells Fargo & Company cut their price objective on shares of Service Properties Trust from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 22nd. Zacks Research downgraded Service Properties Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Service Properties Trust in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Service Properties Trust has an average rating of “Reduce” and an average price target of $2.50.

Service Properties Trust Stock Performance

NASDAQ SVC opened at $2.23 on Tuesday. The firm has a market cap of $374.84 million, a P/E ratio of -1.34 and a beta of 1.46. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 5.68. The business’s 50-day moving average price is $1.96 and its 200 day moving average price is $2.25. Service Properties Trust has a 52-week low of $1.55 and a 52-week high of $3.08.

Service Properties Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Monday, January 26th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, January 26th. Service Properties Trust’s payout ratio is presently -2.40%.

Service Properties Trust Profile

Service Properties Trust (NASDAQ: SVC) is a real estate investment trust (REIT) specializing in the acquisition, ownership and leasing of service-oriented properties, with a primary focus on the lodging sector. The company structures long-term, triple-net leases with established hotel operators under franchise agreements with leading global brands. By partnering with recognized hotel companies, Service Properties Trust seeks to generate a stable income stream through rent payments, while offering operators the capital and balance-sheet flexibility to grow their portfolios.

Since its formation in 2010, Service Properties Trust has grown its portfolio through strategic sale-leaseback transactions, targeted property acquisitions and selective dispositions.