Mirae Asset Global Investments Co. Ltd. Buys 6,677 Shares of Service Properties Trust (NASDAQ:SVC)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Service Properties Trust (NASDAQ:SVC) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,373 shares of the real estate investment trust’s stock after acquiring an additional 6,677 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Service Properties Trust were worth $669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SVC. Asset Management One Co. Ltd. boosted its holdings in shares of Service Properties Trust by 1.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 257,217 shares of the real estate investment trust’s stock worth $2,227,000 after buying an additional 3,237 shares during the last quarter. Armor Investment Advisors LLC boosted its holdings in shares of Service Properties Trust by 3.8% in the fourth quarter. Armor Investment Advisors LLC now owns 329,564 shares of the real estate investment trust’s stock worth $2,814,000 after buying an additional 12,203 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Service Properties Trust by 4.0% in the fourth quarter. SG Americas Securities LLC now owns 80,678 shares of the real estate investment trust’s stock worth $689,000 after buying an additional 3,083 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Service Properties Trust by 8.0% in the third quarter. Public Employees Retirement System of Ohio now owns 237,412 shares of the real estate investment trust’s stock worth $1,826,000 after buying an additional 17,624 shares during the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in shares of Service Properties Trust in the third quarter worth approximately $47,000. 77.62% of the stock is currently owned by institutional investors.

Service Properties Trust Price Performance

Shares of NASDAQ:SVC opened at $6.22 on Friday. The company has a debt-to-equity ratio of 3.26, a current ratio of 0.09 and a quick ratio of 0.09. Service Properties Trust has a 1-year low of $5.92 and a 1-year high of $9.39. The company has a market capitalization of $1.03 billion, a P/E ratio of -31.10 and a beta of 2.18. The firm’s 50 day simple moving average is $6.70 and its two-hundred day simple moving average is $7.37.

Service Properties Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 12.86%. The ex-dividend date is Friday, April 19th. Service Properties Trust’s dividend payout ratio is currently -400.00%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SVC. Wells Fargo & Company dropped their price objective on shares of Service Properties Trust from $7.50 to $5.75 and set an “underweight” rating on the stock in a report on Thursday, March 21st. B. Riley dropped their price objective on shares of Service Properties Trust from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, March 4th.

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.