Service Properties Trust (NASDAQ:SVC) Stock Price Up 14.1% – Time to Buy?

Service Properties Trust (NASDAQ:SVC)’s share price was up 14.1% on Thursday . The company traded as high as $3.03 and last traded at $3.04. Approximately 1,926,537 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 1,596,819 shares. The stock had previously closed at $2.66.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut their target price on Service Properties Trust from $2.75 to $2.50 and set an “underweight” rating on the stock in a research report on Tuesday, February 18th.

Service Properties Trust Price Performance

The firm has a market capitalization of $483.28 million, a P/E ratio of -1.97 and a beta of 2.19. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a 50-day moving average of $2.64 and a 200-day moving average of $3.41.

Service Properties Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, January 27th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Monday, January 27th. Service Properties Trust’s dividend payout ratio is currently -2.72%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alpine Global Management LLC purchased a new position in Service Properties Trust during the fourth quarter worth approximately $200,000. Two Sigma Advisers LP raised its stake in shares of Service Properties Trust by 805.0% in the fourth quarter. Two Sigma Advisers LP now owns 400,900 shares of the real estate investment trust’s stock valued at $1,018,000 after acquiring an additional 356,600 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Service Properties Trust during the fourth quarter worth approximately $1,807,000. Tidal Investments LLC purchased a new position in Service Properties Trust during the 4th quarter worth approximately $33,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Service Properties Trust in the fourth quarter valued at approximately $602,000. 77.62% of the stock is currently owned by hedge funds and other institutional investors.

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.