Edgestream Partners L.P. Decreases Stock Holdings in Service Properties Trust (NASDAQ:SVC)

Edgestream Partners L.P. trimmed its holdings in shares of Service Properties Trust (NASDAQ:SVCGet Rating) by 24.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 390,984 shares of the real estate investment trust’s stock after selling 127,842 shares during the quarter. Edgestream Partners L.P. owned 0.24% of Service Properties Trust worth $2,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Van ECK Associates Corp increased its position in shares of Service Properties Trust by 15.1% during the first quarter. Van ECK Associates Corp now owns 14,699 shares of the real estate investment trust’s stock valued at $130,000 after acquiring an additional 1,925 shares during the last quarter. Texas Permanent School Fund increased its position in Service Properties Trust by 1.6% in the second quarter. Texas Permanent School Fund now owns 118,972 shares of the real estate investment trust’s stock worth $622,000 after buying an additional 1,929 shares during the last quarter. Independent Advisor Alliance increased its position in Service Properties Trust by 6.6% in the second quarter. Independent Advisor Alliance now owns 34,724 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 2,155 shares during the last quarter. Mackenzie Financial Corp increased its position in Service Properties Trust by 21.3% in the second quarter. Mackenzie Financial Corp now owns 12,387 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 2,175 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in Service Properties Trust by 7.5% in the first quarter. Teacher Retirement System of Texas now owns 34,507 shares of the real estate investment trust’s stock worth $305,000 after buying an additional 2,414 shares during the last quarter. 79.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their target price on Service Properties Trust from $6.25 to $6.75 and gave the stock an “underweight” rating in a research report on Monday, August 29th.

Service Properties Trust Stock Down 1.4 %

NASDAQ:SVC opened at $7.58 on Thursday. 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 business has a fifty day simple moving average of $6.91 and a two-hundred day simple moving average of $6.60. Service Properties Trust has a 1 year low of $4.65 and a 1 year high of $9.99.

Service Properties Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Monday, October 24th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 10.55%. The ex-dividend date was Friday, October 21st. Service Properties Trust’s dividend payout ratio (DPR) is presently -43.96%.

Service Properties Trust Company Profile

(Get Rating)

Service Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada with 149 distinct brands across 23 industries. SVC's properties are primarily operated under long-term management or lease agreements.

Further Reading

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Institutional Ownership by Quarter for Service Properties Trust (NASDAQ:SVC)

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