CM Management LLC Buys 150,000 Shares of Service Properties Trust (NASDAQ:SVC)

CM Management LLC grew its holdings in shares of Service Properties Trust (NASDAQ:SVC) by 50.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 450,000 shares of the real estate investment trust’s stock after buying an additional 150,000 shares during the period. CM Management LLC’s holdings in Service Properties Trust were worth $1,143,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Service Properties Trust by 20.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,554,256 shares of the real estate investment trust’s stock worth $19,188,000 after buying an additional 1,259,382 shares during the period. Versor Investments LP purchased a new position in shares of Service Properties Trust in the 4th quarter worth approximately $561,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Service Properties Trust by 3,721.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 591,225 shares of the real estate investment trust’s stock worth $1,502,000 after acquiring an additional 575,754 shares during the last quarter. Wolverine Asset Management LLC lifted its stake in shares of Service Properties Trust by 300.5% during the 4th quarter. Wolverine Asset Management LLC now owns 174,903 shares of the real estate investment trust’s stock worth $444,000 after acquiring an additional 131,237 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Service Properties Trust during the fourth quarter valued at approximately $96,000. 77.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their price objective on shares of Service Properties Trust from $2.75 to $2.50 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th.

Service Properties Trust Price Performance

Shares of NASDAQ SVC opened at $2.90 on Friday. Service Properties Trust has a one year low of $2.29 and a one year high of $6.85. The firm has a market cap of $483.25 million, a PE ratio of -1.97 and a beta of 2.21. The firm has a fifty day moving average of $2.71 and a 200 day moving average of $3.34. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03.

Service Properties Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, January 27th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Monday, January 27th. Service Properties Trust’s dividend payout ratio is presently -2.40%.

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.