Penserra Capital Management LLC Reduces Holdings in Service Properties Trust (NASDAQ:SVC)

Posted by Defense World Staff on Feb 28th, 2023

Penserra Capital Management LLC reduced its stake in shares of Service Properties Trust (NASDAQ:SVC – Get Rating) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,181 shares of the real estate investment trust’s stock after selling 6,045 shares during the quarter. Penserra Capital Management LLC’s holdings in Service Properties Trust were worth $109,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its position in Service Properties Trust by 150.1% during the third quarter. Nuveen Asset Management LLC now owns 2,948,025 shares of the real estate investment trust’s stock worth $15,300,000 after buying an additional 1,769,110 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Service Properties Trust by 22.5% in the 3rd quarter. MetLife Investment Management LLC now owns 87,262 shares of the real estate investment trust’s stock valued at $453,000 after acquiring an additional 16,054 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Service Properties Trust by 16.6% in the 3rd quarter. Hsbc Holdings PLC now owns 107,240 shares of the real estate investment trust’s stock valued at $559,000 after acquiring an additional 15,277 shares during the period. Cipher Capital LP acquired a new position in shares of Service Properties Trust in the 3rd quarter valued at $110,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Service Properties Trust by 6.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 161,500 shares of the real estate investment trust’s stock valued at $838,000 after acquiring an additional 10,300 shares during the period. 78.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their target price on shares of Service Properties Trust from $6.75 to $7.50 and gave the company an “underweight” rating in a report on Thursday, February 2nd.

Service Properties Trust Stock Performance

NASDAQ:SVC opened at $11.01 on Tuesday. The firm’s fifty day moving average price is $8.42 and its 200 day moving average price is $7.59. Service Properties Trust has a 1-year low of $4.65 and a 1-year high of $11.16. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -6.05 and a beta of 2.32.

Service Properties Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Monday, January 23rd were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, January 20th. This represents a $0.80 dividend on an annualized basis and a yield of 7.27%. Service Properties Trust’s dividend payout ratio (DPR) is -43.96%.

Service Properties Trust Profile

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Service Properties Trust is a real estate investment trust, which engages in the provision of hospitality and travel services. It operates through the following Hotel Investments and Net Lease Investments segments. The firm owns hotels and travel centers located throughout the U.S., Ontario, Canada, and Puerto Rico.