Service Properties Trust (NASDAQ:SVC) Shares Gap Up to $4.47

Service Properties Trust (NASDAQ:SVC)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $4.47, but opened at $4.60. Service Properties Trust shares last traded at $4.61, with a volume of 5,986 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. B. Riley cut their target price on shares of Service Properties Trust from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company reduced their target price on Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, September 13th.

Service Properties Trust Trading Up 0.2 %

The business has a fifty day moving average of $4.99 and a 200-day moving average of $5.55. The company has a debt-to-equity ratio of 3.98, a quick ratio of 0.01 and a current ratio of 0.01. The company has a market capitalization of $765.81 million, a P/E ratio of -5.49 and a beta of 2.20.

Service Properties Trust (NASDAQ:SVC) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.94). The business had revenue of $512.95 million during the quarter, compared to the consensus estimate of $509.33 million. Service Properties Trust had a negative net margin of 10.56% and a negative return on equity of 17.17%. During the same period last year, the business posted $0.58 earnings per share. Analysts anticipate that Service Properties Trust will post 1.21 earnings per share for the current fiscal year.

Service Properties Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 22nd were paid a dividend of $0.20 per share. The ex-dividend date was Monday, July 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 17.32%. Service Properties Trust’s dividend payout ratio (DPR) is currently -95.24%.

Institutional Trading of Service Properties Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Service Properties Trust during the fourth quarter worth $9,333,000. Capital Management Corp VA boosted its holdings in Service Properties Trust by 11.9% during the first quarter. Capital Management Corp VA now owns 3,630,775 shares of the real estate investment trust’s stock worth $24,617,000 after purchasing an additional 387,465 shares during the last quarter. Whitebox Advisors LLC grew its position in Service Properties Trust by 167.7% in the 2nd quarter. Whitebox Advisors LLC now owns 610,602 shares of the real estate investment trust’s stock worth $3,138,000 after purchasing an additional 382,502 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in Service Properties Trust in the 4th quarter valued at about $2,484,000. Finally, AQR Capital Management LLC lifted its position in shares of Service Properties Trust by 65.3% during the 2nd quarter. AQR Capital Management LLC now owns 734,572 shares of the real estate investment trust’s stock worth $3,607,000 after buying an additional 290,208 shares in the last quarter. 77.62% of the stock is owned by hedge funds and other institutional investors.

About Service Properties Trust

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.