Hennessy Advisors Inc. Acquires 127,900 Shares of Service Properties Trust (NASDAQ:SVC)

Hennessy Advisors Inc. increased its holdings in Service Properties Trust (NASDAQ:SVC) by 44.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 418,800 shares of the real estate investment trust’s stock after buying an additional 127,900 shares during the period. Hennessy Advisors Inc. owned about 0.25% of Service Properties Trust worth $2,839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SVC. Fortis Group Advisors LLC purchased a new stake in shares of Service Properties Trust during the third quarter valued at $47,000. MQS Management LLC purchased a new stake in shares of Service Properties Trust in the third quarter worth about $77,000. Metis Global Partners LLC purchased a new stake in shares of Service Properties Trust in the fourth quarter worth about $96,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Service Properties Trust in the fourth quarter worth about $102,000. Finally, PNC Financial Services Group Inc. raised its holdings in Service Properties Trust by 30.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,553 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 3,135 shares during the period. Institutional investors own 77.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SVC. Wells Fargo & Company reduced their target price 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. B. Riley cut their price target on Service Properties Trust from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, May 13th.

Service Properties Trust Trading Up 4.3 %

Service Properties Trust stock traded up $0.21 during mid-day trading on Friday, hitting $5.11. The company’s stock had a trading volume of 577,537 shares, compared to its average volume of 1,014,027. Service Properties Trust has a 1 year low of $4.81 and a 1 year high of $9.39. The stock’s fifty day moving average is $5.53 and its two-hundred day moving average is $6.78. The firm has a market capitalization of $847.03 million, a PE ratio of -6.00 and a beta of 2.18. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, April 22nd were issued a $0.20 dividend. The ex-dividend date was Friday, April 19th. This represents a $0.80 dividend on an annualized basis and a yield of 15.66%. Service Properties Trust’s dividend payout ratio (DPR) is presently -95.24%.

Service Properties Trust Company 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.