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 Ratings Changes

A number of equities research analysts have recently commented on SVC shares. Wells Fargo & Company lowered their target price on Service Properties Trust from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, September 13th. B. Riley dropped 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.

Service Properties Trust Stock Up 0.2 %

The firm has a market capitalization of $765.81 million, a PE ratio of -5.49 and a beta of 2.20. The stock has a 50-day simple moving average of $4.99 and a 200-day simple moving average of $5.55. 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 announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported ($0.45) earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.94). The firm had revenue of $512.95 million during the quarter, compared to analysts’ expectations of $509.33 million. Service Properties Trust had a negative return on equity of 17.17% and a negative net margin of 10.56%. During the same period last year, the business posted $0.58 EPS. Analysts forecast that Service Properties Trust will post 1.21 EPS for the current year.

Service Properties Trust Dividend Announcement

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

Hedge Funds Weigh In On Service Properties Trust

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Service Properties Trust by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,798,087 shares of the real estate investment trust’s stock valued at $23,896,000 after acquiring an additional 91,272 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Service Properties Trust by 8.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 104,060 shares of the real estate investment trust’s stock worth $871,000 after purchasing an additional 7,747 shares in the last quarter. Norges Bank purchased a new stake in Service Properties Trust in the fourth quarter worth about $9,333,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Service Properties Trust by 1.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 188,400 shares of the real estate investment trust’s stock worth $1,609,000 after acquiring an additional 2,900 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of Service Properties Trust by 14.9% in the 4th quarter. Allianz Asset Management GmbH now owns 846,736 shares of the real estate investment trust’s stock valued at $7,231,000 after purchasing an additional 109,732 shares during the period. Hedge funds and other institutional investors own 77.62% of the company’s stock.

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.