Lido Advisors LLC Trims Stock Holdings in Service Properties Trust (NASDAQ:SVC)

Lido Advisors LLC trimmed its holdings in Service Properties Trust (NASDAQ:SVC) by 27.4% in the second quarter, Holdings Channel reports. The institutional investor owned 44,226 shares of the real estate investment trust’s stock after selling 16,726 shares during the quarter. Lido Advisors LLC’s holdings in Service Properties Trust were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC grew its position in Service Properties Trust by 137.3% in the second quarter. Parallel Advisors LLC now owns 3,839 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,221 shares in the last quarter. Point72 Hong Kong Ltd grew its position in Service Properties Trust by 350.6% in the first quarter. Point72 Hong Kong Ltd now owns 4,389 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 3,415 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Service Properties Trust by 146.8% in the first quarter. Tower Research Capital LLC TRC now owns 5,131 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,052 shares in the last quarter. Quilter Plc purchased a new position in Service Properties Trust in the second quarter worth $5,457,595,000. Finally, Captrust Financial Advisors purchased a new position in Service Properties Trust in the second quarter worth $41,000. 78.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SVC has been the subject of several recent research reports. HSBC initiated coverage on shares of Service Properties Trust in a research note on Monday, October 23rd. They issued a “hold” rating and a $8.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Service Properties Trust from $8.00 to $6.50 and set an “underweight” rating for the company in a research note on Monday, November 13th.

Service Properties Trust Price Performance

SVC stock opened at $7.27 on Monday. Service Properties Trust has a 1 year low of $6.84 and a 1 year high of $11.56. The company has a market cap of $1.21 billion, a P/E ratio of -55.92 and a beta of 2.23. The firm has a 50-day moving average of $7.45 and a 200 day moving average of $8.13. The company has a debt-to-equity ratio of 4.39, a current ratio of 0.75 and a quick ratio of 0.75.

Service Properties Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, October 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 11.00%. The ex-dividend date was Friday, October 20th. Service Properties Trust’s payout ratio is currently -615.38%.

About Service Properties Trust

Service Properties Trust (Nasdaq: SVC) is a real estate investment trust, or REIT, with over $11 billion invested in two asset categories: hotels and service-focused retail net lease properties. As of June 30, 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.