Wolverine Asset Management LLC Acquires 131,237 Shares of Service Properties Trust (NASDAQ:SVC)

Wolverine Asset Management LLC increased its holdings in Service Properties Trust (NASDAQ:SVC) by 300.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,903 shares of the real estate investment trust’s stock after purchasing an additional 131,237 shares during the quarter. Wolverine Asset Management LLC owned 0.10% of Service Properties Trust worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in shares of Service Properties Trust by 3,261.1% in the third quarter. International Assets Investment Management LLC now owns 36,535 shares of the real estate investment trust’s stock worth $167,000 after purchasing an additional 35,448 shares during the last quarter. abrdn plc grew its holdings in Service Properties Trust by 10.5% in the 3rd quarter. abrdn plc now owns 33,919 shares of the real estate investment trust’s stock worth $155,000 after acquiring an additional 3,236 shares during the last quarter. Van ECK Associates Corp grew its holdings in Service Properties Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 28,352 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 3,112 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Service Properties Trust by 1.5% in the third quarter. Asset Management One Co. Ltd. now owns 247,449 shares of the real estate investment trust’s stock valued at $1,128,000 after acquiring an additional 3,594 shares during the period. Finally, Capital Management Corp VA raised its stake in shares of Service Properties Trust by 9.6% during the third quarter. Capital Management Corp VA now owns 5,174,563 shares of the real estate investment trust’s stock valued at $23,596,000 after acquiring an additional 453,944 shares during the last quarter. 77.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price target on Service Properties Trust from $2.75 to $2.50 and set an “underweight” rating for the company in a research report on Tuesday, February 18th.

Service Properties Trust Stock Performance

NASDAQ:SVC opened at $2.69 on Monday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 4.32. The firm’s fifty day simple moving average is $2.63 and its 200 day simple moving average is $3.46. The stock has a market cap of $448.28 million, a P/E ratio of -1.83 and a beta of 2.19. Service Properties Trust has a twelve month low of $2.29 and a twelve month high of $7.73.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, January 27th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, January 27th. Service Properties Trust’s payout ratio is -2.72%.

Service Properties Trust Company 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.