Readystate Asset Management LP Reduces Stock Position in Service Properties Trust $SVC

Readystate Asset Management LP decreased its position in shares of Service Properties Trust (NASDAQ:SVC) by 15.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,277,834 shares of the real estate investment trust’s stock after selling 423,291 shares during the quarter. Readystate Asset Management LP’s holdings in Service Properties Trust were worth $6,173,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SVC. BNP Paribas Financial Markets raised its holdings in Service Properties Trust by 54.4% during the second quarter. BNP Paribas Financial Markets now owns 14,470 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 5,099 shares during the last quarter. Savant Capital LLC acquired a new position in shares of Service Properties Trust during the 3rd quarter worth $37,000. Quadrature Capital Ltd boosted its position in shares of Service Properties Trust by 45.3% in the 2nd quarter. Quadrature Capital Ltd now owns 17,911 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 5,588 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Service Properties Trust in the 3rd quarter worth about $63,000. Finally, Metis Global Partners LLC grew its stake in Service Properties Trust by 30.0% in the 2nd quarter. Metis Global Partners LLC now owns 27,466 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 6,343 shares during the last quarter. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Price Performance

SVC stock opened at $2.21 on Wednesday. The stock has a market capitalization of $371.48 million, a price-to-earnings ratio of -1.32 and a beta of 1.46. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 5.68. Service Properties Trust has a 52-week low of $1.55 and a 52-week high of $3.08. The stock’s fifty day simple moving average is $2.01 and its 200-day simple moving average is $2.23.

Service Properties Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Monday, January 26th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, January 26th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.8%. Service Properties Trust’s dividend payout ratio is currently -2.40%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SVC shares. Wells Fargo & Company reduced their price target on shares of Service Properties Trust from $2.50 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Service Properties Trust in a research report on Thursday, January 22nd. Finally, Zacks Research cut Service Properties Trust from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $2.50.

Service Properties Trust Company Profile

Service Properties Trust (NASDAQ: SVC) is a real estate investment trust (REIT) specializing in the acquisition, ownership and leasing of service-oriented properties, with a primary focus on the lodging sector. The company structures long-term, triple-net leases with established hotel operators under franchise agreements with leading global brands. By partnering with recognized hotel companies, Service Properties Trust seeks to generate a stable income stream through rent payments, while offering operators the capital and balance-sheet flexibility to grow their portfolios.

Since its formation in 2010, Service Properties Trust has grown its portfolio through strategic sale-leaseback transactions, targeted property acquisitions and selective dispositions.