Service Properties Trust (NASDAQ:SVC – Get Free Report)’s stock price dropped 5.8% during mid-day trading on Monday after B. Riley lowered their price target on the stock from $9.00 to $8.00. B. Riley currently has a buy rating on the stock. Service Properties Trust traded as low as $4.37 and last traded at $4.39. Approximately 422,760 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 1,076,348 shares. The stock had previously closed at $4.66.
Institutional Investors Weigh In On Service Properties Trust
A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Service Properties Trust during the 4th quarter valued at $9,333,000. Capital Management Corp VA raised its position in Service Properties Trust by 14.8% during the 4th quarter. Capital Management Corp VA now owns 3,243,310 shares of the real estate investment trust’s stock valued at $27,698,000 after purchasing an additional 417,225 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Service Properties Trust during the 4th quarter valued at $2,484,000. Whitebox Advisors LLC raised its position in Service Properties Trust by 732.3% during the 1st quarter. Whitebox Advisors LLC now owns 228,100 shares of the real estate investment trust’s stock valued at $1,547,000 after purchasing an additional 200,695 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Service Properties Trust by 54.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 322,544 shares of the real estate investment trust’s stock valued at $2,187,000 after purchasing an additional 113,878 shares in the last quarter. 77.62% of the stock is owned by institutional investors.
Service Properties Trust Trading Down 7.3 %
The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 3.58. The stock has a 50-day simple moving average of $5.26 and a two-hundred day simple moving average of $6.14. The firm has a market capitalization of $716.08 million, a P/E ratio of -5.11 and a beta of 2.21.
Service Properties Trust (NASDAQ:SVC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.94). Service Properties Trust had a negative net margin of 7.29% and a negative return on equity of 11.01%. The company had revenue of $512.95 million during the quarter, compared to analysts’ expectations of $509.33 million. During the same quarter in the prior year, the business posted $0.58 earnings per share. On average, equities research analysts anticipate that Service Properties Trust will post 1.37 earnings per share for the current year.
Service Properties Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 22nd will be issued a $0.20 dividend. The ex-dividend date is Monday, July 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 18.52%. Service Properties Trust’s dividend payout ratio is presently -95.24%.
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.