Fortis Group Advisors LLC Acquires 6,169 Shares of Service Properties Trust (NASDAQ:SVC)

Fortis Group Advisors LLC lifted its holdings in Service Properties Trust (NASDAQ:SVC) by 100.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,338 shares of the real estate investment trust’s stock after purchasing an additional 6,169 shares during the period. Fortis Group Advisors LLC’s holdings in Service Properties Trust were worth $105,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SVC. MQS Management LLC bought a new stake in Service Properties Trust during the third quarter worth approximately $77,000. Metis Global Partners LLC acquired a new position in Service Properties Trust in the 4th quarter valued at $96,000. First Trust Direct Indexing L.P. bought a new position in Service Properties Trust in the 4th quarter worth $102,000. Sherbrooke Park Advisers LLC raised its holdings in Service Properties Trust by 70.3% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 18,845 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 7,782 shares during the period. Finally, Mackenzie Financial Corp lifted its position in Service Properties Trust by 78.4% during the 4th quarter. Mackenzie Financial Corp now owns 20,079 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 8,826 shares during the last quarter. 77.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SVC. Wells Fargo & Company lowered their price target on Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a research report on Thursday, March 21st. B. Riley decreased their target price on Service Properties Trust from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, May 13th.

Service Properties Trust Stock Performance

NASDAQ:SVC traded down $0.15 during trading hours on Friday, hitting $4.93. 1,022,967 shares of the company traded hands, compared to its average volume of 1,010,504. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 3.58. Service Properties Trust has a twelve month low of $4.89 and a twelve month high of $9.39. The firm has a 50-day moving average of $5.80 and a 200 day moving average of $6.94. The stock has a market capitalization of $817.20 million, a price-to-earnings ratio of -5.87 and a beta of 2.18.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, April 22nd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 16.23%. The ex-dividend date was Friday, April 19th. Service Properties Trust’s payout ratio is presently -95.24%.

Service Properties Trust 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.