Maryland State Retirement & Pension System cut its holdings in shares of Service Properties Trust (NASDAQ:SVC – Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,629 shares of the real estate investment trust’s stock after selling 1,644 shares during the period. Maryland State Retirement & Pension System’s holdings in Service Properties Trust were worth $664,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in SVC. Norges Bank purchased a new stake in Service Properties Trust in the fourth quarter worth $13,444,000. State Street Corp grew its stake in Service Properties Trust by 12.2% in the first quarter. State Street Corp now owns 10,852,926 shares of the real estate investment trust’s stock worth $95,831,000 after purchasing an additional 1,179,868 shares during the period. Goldman Sachs Group Inc. grew its stake in Service Properties Trust by 88.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,333,142 shares of the real estate investment trust’s stock worth $11,772,000 after purchasing an additional 626,831 shares during the period. Balyasny Asset Management LLC purchased a new stake in Service Properties Trust in the third quarter worth $2,924,000. Finally, Voya Investment Management LLC grew its stake in Service Properties Trust by 525.2% in the second quarter. Voya Investment Management LLC now owns 632,780 shares of the real estate investment trust’s stock worth $3,310,000 after purchasing an additional 531,567 shares during the period. 79.27% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have commented on SVC shares. B. Riley dropped their target price on Service Properties Trust from $15.00 to $13.00 in a report on Thursday, May 11th. TheStreet raised Service Properties Trust from a “d+” rating to a “c” rating in a report on Monday, April 10th.
Service Properties Trust Trading Up 0.9 %
Service Properties Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Monday, April 24th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date was Friday, April 21st. Service Properties Trust’s payout ratio is currently 888.89%.
Service Properties Trust Company Profile
Service Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of December 31, 2022, SVC owned 238 hotels with over 40,000 guest rooms throughout the United States and in Puerto Rico and Canada, the majority of which are extended stay and select service.
Featured Stories
- Five stocks we like better than Service Properties Trust
- Pfizer Just Invested $25 million In This Biotech
- Cracks In The Labor Market? Not Yet, But They’re Coming
- Levi’s: Buy On The Dip Or Downtrend In Play?
- Who Wins And Who Loses With China’s Metal Restrictions
- 3 Large Semiconductor Makers Offering Dividends & Price Growth
Receive News & Ratings for Service Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Service Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.
