Krane Funds Advisors LLC Buys New Holdings in Service Properties Trust (NASDAQ:SVC)

Krane Funds Advisors LLC purchased a new position in shares of Service Properties Trust (NASDAQ:SVC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 59,867 shares of the real estate investment trust’s stock, valued at approximately $511,000.

Other institutional investors have also recently bought and sold shares of the company. Allianz Asset Management GmbH grew its stake in shares of Service Properties Trust by 14.9% in the 4th quarter. Allianz Asset Management GmbH now owns 846,736 shares of the real estate investment trust’s stock valued at $7,231,000 after purchasing an additional 109,732 shares during the period. Hsbc Holdings PLC grew its position in Service Properties Trust by 14.6% in the fourth quarter. Hsbc Holdings PLC now owns 89,216 shares of the real estate investment trust’s stock valued at $762,000 after acquiring an additional 11,349 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Service Properties Trust by 1.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 188,400 shares of the real estate investment trust’s stock valued at $1,609,000 after acquiring an additional 2,900 shares during the period. Norges Bank acquired a new position in Service Properties Trust during the fourth quarter worth $9,333,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Service Properties Trust by 8.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 104,060 shares of the real estate investment trust’s stock valued at $871,000 after acquiring an additional 7,747 shares during the period. Institutional investors and hedge funds own 77.62% of the company’s stock.

Service Properties Trust Trading Down 3.0 %

NASDAQ SVC traded down $0.15 on Friday, reaching $4.93. The company had a trading volume of 1,022,967 shares, compared to its average volume of 1,010,504. Service Properties Trust has a 52 week low of $4.89 and a 52 week high of $9.39. The stock’s 50 day moving average is $5.80 and its 200-day moving average is $6.94. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 3.58. The stock has a market cap of $817.20 million, a price-to-earnings ratio of -5.87 and a beta of 2.18.

Service Properties Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, April 22nd were given a dividend of $0.20 per share. The ex-dividend date was Friday, April 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 16.23%. Service Properties Trust’s dividend payout ratio is -95.24%.

Analyst Ratings Changes

Several analysts have recently weighed in on SVC shares. B. Riley dropped their price objective on shares of Service Properties Trust from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, May 13th. Wells Fargo & Company dropped their price target on Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating for the company in a report on Thursday, March 21st.

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.