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

Service Properties Trust (NASDAQ:SVC)’s share 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 traded.

Analyst Upgrades and Downgrades

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

Service Properties Trust Price Performance

The firm’s 50-day moving average is $4.97 and its 200-day moving average is $5.54. The company has a market capitalization of $822.17 million, a PE ratio of -5.90 and a beta of 2.20. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 3.98.

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

Service Properties Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 22nd were given a dividend of $0.20 per share. The ex-dividend date was Monday, July 22nd. This represents a $0.80 annualized dividend and a yield of 16.13%. Service Properties Trust’s payout ratio is -95.24%.

Institutional Trading of Service Properties Trust

Several institutional investors have recently added to or reduced their stakes in SVC. FinTrust Capital Advisors LLC boosted its position in Service Properties Trust by 137.9% during the first quarter. FinTrust Capital Advisors LLC now owns 5,928 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 3,436 shares during the period. Xponance Inc. purchased a new stake in Service Properties Trust during the second quarter valued at about $53,000. Choreo LLC purchased a new stake in Service Properties Trust during the second quarter valued at about $54,000. Sequoia Financial Advisors LLC bought a new position in shares of Service Properties Trust during the second quarter valued at about $68,000. Finally, NorthRock Partners LLC purchased a new stake in shares of Service Properties Trust during the first quarter worth about $75,000. 77.62% of the stock is currently 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.