Kendall Capital Management Cuts Position in Service Properties Trust (NASDAQ:SVC)

Kendall Capital Management trimmed its position in shares of Service Properties Trust (NASDAQ:SVC) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,900 shares of the real estate investment trust’s stock after selling 8,550 shares during the period. Kendall Capital Management’s holdings in Service Properties Trust were worth $78,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. KBC Group NV increased its stake in shares of Service Properties Trust by 140.6% during the fourth quarter. KBC Group NV now owns 19,666 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 11,491 shares during the period. Walleye Capital LLC purchased a new stake in shares of Service Properties Trust during the third quarter worth approximately $58,000. Wolverine Trading LLC purchased a new stake in shares of Service Properties Trust during the third quarter worth approximately $58,000. EMC Capital Management increased its stake in shares of Service Properties Trust by 1,031.3% during the fourth quarter. EMC Capital Management now owns 24,459 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 22,297 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Service Properties Trust during the third quarter worth approximately $71,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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 report on Tuesday, February 18th.

Service Properties Trust Stock Performance

Shares of SVC opened at $2.90 on Monday. The stock has a 50 day moving average price of $2.71 and a 200 day moving average price of $3.33. 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 company has a market capitalization of $483.25 million, a price-to-earnings ratio of -1.97 and a beta of 2.21. Service Properties Trust has a 52-week low of $2.29 and a 52-week high of $6.85.

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Monday, January 27th. Service Properties Trust’s dividend payout ratio (DPR) is -2.40%.

About Service Properties Trust

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.